Banks to repay 4 billion of ECB's crisis loans next week: Reuters poll
BANGALORE (Reuters) - Banks are expected to repay 4 billion euros ($5 billion) of their three-year crisis loans to the European Central Bank next week, according to a Reuters poll of euro money market traders taken on Monday.
The poll of 20 dealers showed banks will repay 2 billion euros of the first three-year operation and 2 billion euros of the second. The combined amount is higher than the 3 billion euros banks will repay this week.
The central bank flooded money markets with over a trillion euros through two long-term tenders in December 2011 and February 2012. Banks have returned roughly a quarter of the amount since repayment started in January 2013.
The wider poll of 24 money market traders showed the ECB is expected to allot 102 billion euros in its 7-day refinancing auction this week compared with 103 billion euros maturing from last week's tender.
Forecasts ranged from 98 billion euros to 110 billion euros.
Results of the weekly tender will be announced on Tuesday and the amount allotted on Wednesday.
(Reporting by Ruby Cherian; Polling by Hari Kishan and Shaloo Shrivastava; Editing by Ruth Pitchford)
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