European Central Bank Loans $65 Billion To Banks For 1 Year
The European Central Bank has loaned $65.3 billion to 181 banks for a year as part of its efforts to steady the banking system against the turmoil of the
eurozone debt crisis.
The 371-day loans announced Wednesday give eurozone banks a chance to lock up all the funding they want for longer than the usual 3-month maximum and reduce uncertainty about their finances.
The bank loaned money for six months in August and will hold a 13-month credit offering in December, its longest ever.