ECB lends Europe’s banks a massive €489 billion over unprecedented 3-year period
http://dervishcom.blogspot.com/2011/12/ecb-lends-europes-banks-massive-489.html
FRANKFURT, Germany — The European Central Bank is lending €489 billion ($639 billion) to the continent's banks for an unprecedented three years in an effort to bolster Europe's stressed financial system.
The ECB said Wednesday that 523 banks took the loans. It didn't identify the banks involved.
Demand far exceeded market expectations of around €300 billion.
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Source: http://feeds.washingtonpost.com/click.phdo?i=4d9864cda69ff44cd674de0b60e9b865
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