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Old 21.12.2011, 12:10
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Banks get 489.200.000.000 Euro credit from the ECB.

That's kinda lot of money, no?

http://www.sueddeutsche.de/geld/zent...-ezb-1.1240490
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Old 21.12.2011, 12:15
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Re: Banks get 489.200.000.000 Euro credit from the ECB.

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That's how much they saved by devaluing the currency a few months ago, eh?
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Old 21.12.2011, 12:19
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Re: Banks get 489.200.000.000 Euro credit from the ECB.

I was feeling generous.
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Old 21.12.2011, 12:25
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Re: Banks get 489.200.000.000 Euro credit from the ECB.

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That's how much they saved by devaluing the currency a few months ago, eh?
sorry I confused my acronyms. I thought ECB was SCB or UBS or BBC or whatever....
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Old 21.12.2011, 12:51
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Re: Banks get 489.200.000.000 Euro credit from the ECB.

And no doubt bankers will use the incoming cash as an excuse for bigger bonuses as their profits will appear to jump
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Old 21.12.2011, 12:53
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Re: Banks get 489.200.000.000 Euro credit from the ECB.

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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...
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Old 21.12.2011, 13:02
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Yeah, shame. The poor bankers. They have really seen a drop in their bonuses in the last few years.
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Old 21.12.2011, 13:03
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Re: Banks get 489.200.000.000 Euro credit from the ECB.

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

Of course it's Christmas
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Old 22.12.2011, 13:41
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Re: Banks get 489.200.000.000 Euro credit from the ECB.

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
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Old 22.12.2011, 14:35
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Re: Banks get 489.200.000.000 Euro credit from the ECB.

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
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