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ECB support operations at new record

Posted on Tuesday, November 22, 2011 at 03:52PM by Registered CommenterSimon Ward | CommentsPost a Comment

ECB system support rose by a further €48 billion to a new record last week. The definition of system support here covers lending in weekly and long-term repos, other claims on banks, “other assets” – incorporating the emergency liquidity assistance operations of Greece and Ireland (at least) – and sovereign and covered bond purchases.

System support has increased by €426 billion since April, equivalent to 4.5% of GDP – see previous post for more discussion.

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