The ECB's targeted longer-term refinancing operations have increased bank lending to the private sector
JulkaisusarjaBank of Finland. Bulletin
JulkaisijaBank of Finland
Julkaisun pysyvä osoite onhttps://urn.fi/URN:NBN:fi:bof-201904151144
In recent years, the ECB has supported bank lending in the euro area by offering long-term financing to banks. The aim of the longer-term refinancing operations (LTROs), the most recent one in particular, was to encourage banks to increase lending to the private sector. LTROs have played a major part in the ECB’s unconventional monetary policy of recent years, and the latest series of operations appears to have increased bank lending to firms.