Reuters: Regulatory News: ECB's Draghi dashes hope for more LTRO cheap loans

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

ECB's Draghi dashes hope for more LTRO cheap loans Jun 6th 2012, 13:08 FRANKFURT, June 6 | Wed Jun 6, 2012 9:08am EDT FRANKFURT, June 6 (Reuters) - European Central Bank President Mario Draghi said it was not up to the ECB to make up for other institutions' lack of action, suggesting that another long-term tranche of cheap loans was not on the cards for now. The ECB calmed markets at the beginning of the year by injecting more than 1 trillion euros into the banking system with twin 3-year loan operations - also known as LTROs - in December and February, which helped ease banks' funding strains. When asked about another LTRO, Draghi said many of the stress indicators were now slightly better than they were in November, just before the ECB announced the 3-year loans, but the issue was whether these measures were actually effective. "Some of the problems in the euro area have nothing to do with monetary policy," Draghi said. "That's what we have to be aware (of). And I don't think it is right for monetary policy to fill other institutions' lack of actions," he added.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions