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ECB announces that banks are making early.......>

ECB
ECB: ECB announces that banks are making early repayment of EUR214bln of TLTRO
funds (they included an early repayment option). This comes ahead of the June 18
TLTRO III tender, so banks are likely to be rolling over the majority of those
funds at more favourable terms (The new TLTRO carries a rate as low as -1.00%
dependent on banks meeting certain lending criteria).
- Pictet's Frederik Ducrozet Tweets: "With weekly LTROs and TLTRO-II.1 maturing
on 24 June, the total amount [of (T)LTROS outstanding] will be down to EUR263bln
*before* the June TLTRO-III.4. The take-up needs to be EUR750bn+ for total
liquidity not to shrink."

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