ECB

    • Caution brings safety

      Caution brings safety

      A bird in the hand is worth two in the bush - or caution brings safety - has become a slogan of bank customers during the pandemic. Before Covid-19 hit, the global economy was on the rise - companies were not hesitant to take out loans, investing in new business ventures and creating jobs, individuals were taking out mortgages as well as consumer loans to finance renovation works, vacations or car purchases. In the aftermath of the coronavirus pandemic outbreak, however, the world stood still.

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    • ECB leaves rates unchanged, vows more bonds purchases

      ECB leaves rates unchanged, vows more bonds purchases

      The European Central bank decided to leave unchanged its interest rates at zero levels and earmarked intentions to continue buying bonds to ease the pressure caused by pandemic, ECB said in a statement. “The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.50% respectively.

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    • ECB steps up actions to curb rates

      ECB steps up actions to curb rates

      The European Central Bank announced intentions to step up its operations aimed to curb borrowing costs, Reuters reported. ECB intervened on the bond markets to reduce rising tension over European banks. The bank further warned the European policy makers that a too early withdrawal of stimulus packages will pose serious risk for economies.

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    • EU banks curb bad loans despite pandemic slowdown

      EU banks curb bad loans despite pandemic slowdown

      EU banks managed to decrease the level of non-performing loans in their portfolios, Reuters reported. The level of bad loans was reduced to a record low of 2.63%, ECB figures showed. The latest slump in bad credits was registered in the last quarter of 2020. This is the lowest level of bad credits since the start of supervision in 2015, despite a deep and scarring Covid-19 related recession that will likely weigh down on the EU economy for the next several years.

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