ECB to offer banks unlimited cash for three years - Draghi

ECB president Mario Draghi said it will offer banks as much money as they need for three years and loosened collateral rules at refinancing operations as officials try to ease strains in credit markets.

8th December, 2011
ECB to offer banks unlimited cash for three years - Draghi
ECB president Mario Draghi

European Central Bank president Mario Draghi said the ECB will offer banks as much money as they need for three years and loosened collateral rules at refinancing operations as officials try to ease strains in credit markets.

The ECB also cut banks’ reserve ratios to 1 per cent from 2 per cent and will stop fine tuning operations at the end of each reserve maintenance period, Draghi said at a press conference in Frankfurt today....

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