Liquidity offered by the ECB to counterparties in view of exceptional market conditions, possibly also in foreign currency (xeno currency). For example, in the course of the subprime crisis, the ECB, partly in cooperation with other central banks around the world, also provided USD and CHF on several occasions, which had to be collateralized in EUR. – In particular also said of the ECB’s “Targeted longer-term refinancing operations, GLRGs” (TLTROs) in June 2014 with the apparent aim of injecting money into the states in southern Europe .- See Refinancing operations, longer-term. – Cf. ECB Annual Report 2007, p. 109, p. 113 (dates; size of operations), ECB Monthly Bulletin of August 2009, p. 37 et seq. (effects of the first longer-term refinancing operation with a one-year maturity).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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