The third tranche of the auction More ended with the disbursement by the ECB of new liquidity for 97,8 billion euros to 143 banks that requested it. A higher figure than estimated by analysts, who had forecast requests of between 40 and 60 billion euros.
The Tltro auction provides banks with long-term liquidity conditional on the transfer of funds to the real economy, held in the morning. The institutes' requests were fully accepted and the auction was held at fixed rate of 0,05% and with a duration of 1.281 days: it will therefore be settled on 25 March and will expire on 26 September 2018.
According to various rumors, the role of Italian institutions weighs heavily on the total amount disbursed, which allegedly requested funds of around 30 billion euros. Five more Tltro auctions will take place by the end of 2016.
