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Lagarde says TLTROs help lending and conditions have been eased in December

ECB
  • Q: The latest Bank Lending Survey suggest credit standards have tightened. A risk for the euro area is a wave of defaults. This question concerns the effectiveness of the TLTRO programme. Second question, what is the Governing Council's latest thinking on whether TLTROs can be eased further?
  • A: TLTRO III is intended to continue to support the financing of the economy and fuel credit lending. Banks that have been surveyed have said that TLTRO has been helpful to encourage lending. TLTRO expansion/extension was discussed in December. These decisions have been reconfirmed today.

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