That's kinda lot of money, no?

http://www.sueddeutsche.de/geld/zent...-ezb-1.1240490

That's how much they saved by devaluing the currency a few months ago, eh?

I was feeling generous.

sorry I confused my acronyms. I thought ECB was SCB or UBS or BBC or whatever....

And no doubt bankers will use the incoming cash as an excuse for bigger bonuses as their profits will appear to jump

But then the money is not worth what it used to be... so cut the greedy bankers some slack will ya...

Yeah, shame. The poor bankers. They have really seen a drop in their bonuses in the last few years.

Of course it's Christmas

It was an extremely good opportunity for any bank to dress up their balance sheet and liquidity ratios. If somebody offered you a three year loan at extremely cheap levels, wouldn't you accept it? particularly at a time when your creditors are very very wary of your credentials

Yup, pretty much unlimited funds on tap, for 3 years, at 1% interest.
That's right - 1%.

Any bank would be stupid for not taking up the offer.

And I thought the US had turned into a banana republic