European Banks May Face More Pressure to Tap ECB, Lamberti Says
February 08, 2012, 11:20 AM ESTBy Nicholas Comfort
Feb. 8 (Bloomberg) -- European banks will probably face rising pressure to take part in the European Central Bank’s second offering of three-year loans this month, Deutsche Bank AG Chief Operating Officer Hermann-Josef Lamberti said today.
“The pressure to take part will probably rise, not just because the conditions are so exorbitantly good, but because there is the effort to create an equality for all with it,” Lamberti said at a conference in Frankfurt today.
The ECB lent euro-area banks a record 489 billion euros ($647 billion) for three years in December to ward off a funding squeeze caused by a worsening in the sovereign debt crisis. The ECB will offer a second batch of three-year loans on Feb. 28.
Deutsche Bank said last week it didn’t tap the ECB’s first tranche of loans.
To contact the reporter on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net
To contact the editor responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net
