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Tuesday, June 29, 2010 7:56:23 AM
>>Spain's Banks Are Freaking Out As The ECB Is About To Take Away Their Liquidity Pump
Gregory White | Jun. 28, 2010, 5:05 PM | 2,890
Read more: http://www.businessinsider.com/spains-banks-ecb-liquidity-2010-6#ixzz0sF5i8k3o
Spain's banks are freaking out right now about the possibility that the ECB might take away its €442 billion funding facility, according to the FT.
The ECB's plan to allow the funding facility to expire have been labeled "absurd" by Spanish banks lobbying for its continuation.
You can see what Spanish banks are worried about. Here's a chart detailing the liquidity drop off if the ECB allows the fund to expire on July 1.
From FT Alphaville:
Read more: http://www.businessinsider.com/a-failed-debt-auction-proves-that-the-ecb-is-being-ridiculously-dumb-2010-6#ixzz0sF5LHvHF
Gregory White | Jun. 28, 2010, 5:05 PM | 2,890
Read more: http://www.businessinsider.com/spains-banks-ecb-liquidity-2010-6#ixzz0sF5i8k3o
Spain's banks are freaking out right now about the possibility that the ECB might take away its €442 billion funding facility, according to the FT.
The ECB's plan to allow the funding facility to expire have been labeled "absurd" by Spanish banks lobbying for its continuation.
You can see what Spanish banks are worried about. Here's a chart detailing the liquidity drop off if the ECB allows the fund to expire on July 1.
From FT Alphaville:
Read more: http://www.businessinsider.com/a-failed-debt-auction-proves-that-the-ecb-is-being-ridiculously-dumb-2010-6#ixzz0sF5LHvHF
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