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Pictet On TLTRO: "The Big Show Is Coming Next Year"

ECB VIEW

Pictet's Frederik Ducrozet on Twitter re this morning's small TLTRO.III.6 takeup: "Lower than previous operations, but the big show is coming next year....Note that 156 bidding banks is lower than in the last couple of TLTRO-III, but higher than the first operations and I suspect higher than what most expected. Lots of smaller banks likely to have eligible collateral and interest even before TLTRO terms are eased."

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