Second ECB TLTRO Also Flops, Bank Take-Up Far Less Than Expected
Back in September, when the results of the first much-trumpeted TLTRO were announced, everyone said it was a clear disappointment, when European banks expressed just €82.6 billion in ECB credit demand, far below the €100-€300 billion range expected… … and well below the €400 billion across the two 2014 TLTROs hinted by Mario Draghi. Today, we…