European banks asked 82,600 million in the first auction TLTRO – Five Days

European banks asked 82,600 million in the first auction TLTRO – Five Days

The European Central Bank today announced the results of the first auction liquidity to four years, subject to the granting of credit, known by its acronym TLTRO. The amount awarded to banks in the euro zone, yesterday formalized their requests to the institution amounted to 82.600 million euros, below the forecast of experts, who spoke of 100,000, and far from the 400,000 million available limit, defined in terms of the loan portfolio of banks, excluding mortgages.

The TLTRO auction is the formula that the ECB intends to encourage, through a megainyección liquidity, funding of euro zone banks to individuals and SMEs, key to propping up the fragile economic growth.

In line with other European competitors, the big Spanish banks has requested Frankfurt 15,000 million, 54,000 million of which would be entitled to the whole industry in the two auctions this year and 30,000 million expected to be completed by requesting the Ministry of Economy.

The first injection of liquidity, which will take effect next Wednesday, has been harnessed by institutions, however, to revitalize the commercial battle that hold this year to attract SMEs as clients.

CaixaBank has requested 3,000 million 7,000 to which he is entitled, in order to “boost the credit”; Bankia full 2,700 million requested could to launch a campaign loan that lowers by 30% the cost of financing of SMEs and today; People claimed EUR 2,847 million, of which 6,000 correspond to reinforce their lines to SMEs.

Santander , meanwhile, has requested 3,000 million for its Spanish business (the you can borrow up to 6,000) and 600 more for the Porgutal, totaling 3,600 million (9,000 to aspirational between the two auctions.)

Market sources claim that BBVA , meanwhile, has requested 2,600 million 5,600 could. Sabadell , you could receive up to 5,000 million and Bankinter , which correspond 1,700 others, have decided to wait until December to make their applications, according to market sources.

The next auction, in which larger volumes are expected, will be held on December 11 and is expected to register a higher volume of requests, since they already have known the results of the stress test.

The ECB reported this morning that the first round has received requests from 382 institutions, representing 1,372 banks. All of them are entitled to claim, from the current auction and December, a volume of liquid equal to 7% of its portfolio of loans to non-financial companies, not including mortgages.