Banca Ifis participated yesterday in the last Tltro auction, the last of the monetary policy action of the European Central Bank, for an amount of 700 million euros at group level.
The institute writes it in a note, specifying that, "in consideration of the expected development of the Bank's loans, it is believed that the cost of the Tltro will be negative, equal to -0,40%, for the duration of 4 years".
Participation in the Tltro auction "has the purpose of diversifying the forms of funding by lowering their cost", concludes Banca Ifis.
The Tlter is a method, devised by the ECB, to be able to lend money to banks in the Eurozone. The loan granted has a duration of four years. This is a version of the Ltro (Long-Term Refinancing Operations) linked to the disbursement of loans to businesses and households launched by Mario Draghi and the ECB in 2014.
The Stock Exchange rewarded the operation and the stock, despite the negative day in Piazza Affari, rose again.
