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CaixaBank requests 40.7 billion in the TLTRO auction of the European Central Bank

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CaixaBank has participated in the fourth window of long-term financing of the European Central Bank (TLTRO III.4) with a total amount of 40,700 million euros. This amount is added to the 9,025 million arranged in previous TLTRO III auctions. So much CaixaBank how BIS (its Portuguese subsidiary) have made use of all the available TLTRO III amounts "given the favorable conditions offered by the European Central Bank ".

This amount is added to the 9,025 million arranged in previous TLTRO III auctions. So much CaixaBank how BIS (its Portuguese subsidiary) have made use of all the available TLTRO III amounts "given the favorable conditions offered by the European Central Bank ".

CaixaBank considers that "this ease of liquidity allows us to ensure the best financing conditions for its clients and society in general ".

The entity adds that the TLTRO III monetary policy operations promoted by the European Central Bank "establish more favorable financing conditions for those participating banks that increase the volume of eligible loans over a predetermined period of time, including that of the current health and economic crisis"

In this sense, CaixaBank informs that the growth of gross loan portfolio of the Group from the beginning of this year until May 31 amounts to 13,279 million euros, which represents an increase of 5.8%. "All the financing that the CaixaBank Group maintains with the ECB is carried out through the TLTRO III", the entity concludes.

Thus, CaixaBank takes advantage of the fact that the new financing conditions have improved, since the applicable interest rate is 50 basis points lower than the average rate applied in the ECB's refinancing operations. This implies that banks they will charge 0.5% to the ECB for the money they borrow from you in the framework of these operations, since the reference interest rate is 0%.

. (tagsToTranslate) CaixaBank (t) requests (t) 40,700 (t) million (t) auction (t) TLTRO (t) Central Bank (t) European (t) Category: All (t) Category: Market Report (t) Category: Company News (t) Category: Europe Report (t) Category: International News (t) Category: Pulses (t) Category: Pulses Europe (t) Category: Market Pulse (t) Category: Sectorial: Finance



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