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FILE PHOTO: The European Axial Coffer (ECB) logo is pictured afore a account appointment on the aftereffect of the affair of the Governing Council in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski
FRANKFURT (Reuters) – The European Axial Coffer will action euro loans adjoin accessory to axial coffer alfresco the euro breadth to backstop allotment markets amidst the coronavirus pandemic, it said on Friday.
Under the Eurosystem repo ability for axial banks, the ECB will accommodate euro clamminess to a ample set of axial banks alfresco the euro breadth adjoin adequate, euro-denominated bankable collateral, the coffer said in a statement.
The new facility, which complements mutual bandy and repo lines, will be accessible until the end of June 2021.
Reporting by Balazs Koranyi; Editing by Francesco Canepa
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