LTRO (definition)

What Is an LTRO Anyway? – EU Business News – CNBC.

LTRO: A User’s Manual | ZeroHedge.

An abbreviation for Long Term Refinancing Operations, the ECB’s cheap money program to support European banks. The banks present collateral to the ECB and receive loans for it at a very low interest rate. Since they are earning higher interest rates on the collateral purchased and pledged than on the loans, this is a very lucrative program for the banks.

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