FRANKFURT: The European Central Bank attracted just 15.5 billion euros (US$17.4bil) of demand from lenders for the latest round of its long-term loan programme, in a sign that weak investment may hinder the eurozone recovery.
The take-up was lower than all the estimates in a Bloomberg News survey, which ranged from 35 billion euros to 120 billion euros. Banks borrowed 74 billion euros in a similar operation in June. The euro area is struggling to boost investment as its fragile recovery runs into the headwinds of a China-led emerging-market slowdown. The TLTROs are an indication of banks’ willingness to bet on Europe's economic upswing.
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