between professionals work has attracted much surprise that the funding offered yesterday by the Central Bank has generated a limited interest by the banking institutions the euro zone. Would have to have a strong liquidity in the market to avert definitively the possible lack of liquidity of companies in the old continent.
The offer of the Central Bank was also very attractive: it was a liquidity one year fixed rate and a low of 1%. Auction was attended by only 589 banks that were required of € 75.2 billion loan , a subscription is much lower than expected (there was talk of 130miliardi euro) and the auction of June, in which were placed on market of € 442 billion for 1121 beneficiary banks.
The results of the operation, therefore, have led analysts to optimistic statements: According to the experts, in fact, such a low demand for liquidity is the obvious sign of a recovery to which there is more and more rapidly moving and calm the situation they are living on the European banks face liquidity. Nevertheless, the IMF (International Monetary Fund) urges caution in the months to come.
A proof of the correctness or otherwise of analysts' forecasts will be next December, when the ECB will hold a new lending facility to one year.
More information about it here: http://rassegnastampa.mef.gov.it/mefeconomica/View.aspx?ID=2009100113828213-2
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