Three year tender
Three -year tenders include two tender transactions from the European Central Bank (ECB), which provided European credit institutions with liquidity of over EUR 1 trillion. The term of these two transactions is three years each with an underlying average key interest rate. In total, more than 800 credit institutions took advantage of the tender offered.
- First three year tender
The first three-year tender was offered to European banks by the ECB in December 2011.
- Second three-year tender
The second three-year tender was offered to European banks on February 29, 2012 by the ECB.
- Context of the three year tenders
The two three-year tenders were set up mainly against the backdrop of the euro crisis . The European Central Bank saw these new types of tender transactions primarily as an aid measure to prevent liquidity problems at European banks.
Individual evidence
- ↑ Monthly report of the Deutsche Bundesbank, February 2012