VIENNA (dpa-AFX) - The European Central Bank alloted EUR 489.191 billion in three-year loans to banks in its long term refinancing operation held on Wednesday.
The figure exceeded economists' expectations for allotment upto EUR 300 billion. The total number of bidders was 523, for loans that mature on January 29, 2015, ECB data showed.
The liquidity providing operation was a standard tender with fixed rate. The rate will be fixed at the average of the ECB's main refinancing rate, which is currently 1 percent, over the term of the loans.
Copyright RTT News/dpa-AFX