Euro zone banks tap ECB for dollars amid Deutsche Bank jitters

Euro zone banks tap ECB for dollars amid Deutsche Bank jitters
 

Euro zone banks borrowed $2.8 billion from the European Central Bank's emergency line on Wednesday, one of the biggest weekly take-ups since the financial crisis, as Deutsche Bank's woes and tighter U.S. rules made market funding more difficult.
The nine banks were not identified and their reasons for tapping relatively expensive ECB funding are unknown.
But sources at commercial banks said euro zone banks were finding it harder to borrow dollars on the market because of new U.S. rules prompting redemptions from money market funds, the traditional reservoir of bank-to-bank lending.
A euro... read more

 
5 October 2016 in Business, Views: 41
Source: Reuters
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