UniCredit again wants EBRD’s incentive loan

At tomorrow’s, second EBRD’s easy loans auction, the Italian UniCredit bank is planning to borrow two to EUR 2,5 m, the Executive Manager of the bank, Federico Giconi, said for Reuters.

Unlike other banks which showed smaller interest in invitation of ECB and out of offered EUR 400 billion took only EUR 82,6 billion in September, UniCredit then took a maximal amount of EUR 7,75 billion which was assigned to Italy and now it competes again.

Favorable long-term loans which ECB offers to banks are a part of so-called long-term refunding operation within the package of measures for supporting banks to credit real business in Eurozone.

At the first loan auction, held in September, a total of EUR 400 billion was offered with a maturity of four years and an annual interest rate of 0,15%.

The second loan action within TLTRO is scheduled for tomorrow.