This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-17203134

The article has changed 5 times. There is an RSS feed of changes available.

Version 0 Version 1
ECB provides 530bn euros of cheap loans for banks ECB provides 530bn euros of cheap loans for banks
(40 minutes later)
The European Central Bank (ECB) has provided a further 530bn euros ($713bn; £448m) of low-interest loans to 800 banks across the European Union. The European Central Bank (ECB) has provided a further 530bn euros ($713bn; £448bn) of low-interest loans to 800 banks across the European Union.
It is the second time the ECB has offered such three-year loans and comes after 489bn euros was lent in December.It is the second time the ECB has offered such three-year loans and comes after 489bn euros was lent in December.
The loans are aimed to help continue to ease the eurozone debt crisis, and help banks improve their liquidity.The loans are aimed to help continue to ease the eurozone debt crisis, and help banks improve their liquidity.
They have also helped such countries as Italy, as some banks have used the bonds to buy government bonds. They have also helped countries such as Italy, as some banks have used the bonds to buy government bonds.
'Unprecedented expansion'
The markets appear to have welcomed the announcement, with banking shares rising strongly.The markets appear to have welcomed the announcement, with banking shares rising strongly.
In Germany, Commerzbank was the biggest riser, up 3.6%, followed by Deutsche Bank, ahead by 1.7%. Although the ECB has not revealed which banks have taken part, in Germany, shares in Commerzbank were up 3.6%, followed by Deutsche Bank which added 1.7%.
Credit Agricole saw the biggest gains in France, adding 4.5%, followed by Societe Generale, which rose 2.3%. Credit Agricole saw the biggest gains in France, climbing 4.5%, followed by Societe Generale, which rose 2.3%.
In the UK, shares in Barclays were up 1.7%.
Commentators said that the amount of money lent, and the number of banks which had taken part, was in line with expectations.Commentators said that the amount of money lent, and the number of banks which had taken part, was in line with expectations.
Banking analyst Luca Cazzulani of Unicredit said: "This will increase the level of excess liquidity pretty sharply, which is ultimately positive or very positive for risk trades.Banking analyst Luca Cazzulani of Unicredit said: "This will increase the level of excess liquidity pretty sharply, which is ultimately positive or very positive for risk trades.
"Italian and Spanish bonds are likely to benefit from this and equity markets as well.""Italian and Spanish bonds are likely to benefit from this and equity markets as well."
BBC business editor Robert Peston said the central bank's move represented "a massive, perhaps unprecedented, expansion of the ECB's balance sheet".