Bloomberg News

Trichet Says ECB to Offer Longer Loans, Will Buy Covered Bonds

October 06, 2011

Oct. 6 (Bloomberg) -- European Central Bank President Jean- Claude Trichet said the ECB will offer banks additional longer- term liquidity and also restart its covered bond purchases.

The ECB will offer banks one 12-month loan, starting in October, and a second 13-month loan in December. Both will be operated as fixed rate, full allotment operations. It will also start buying 40 billion euros of covered bonds in November.

To contact the reporter on this story: Gabi Thesing in London at

To contact the editor responsible for this story: John Fraher at

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