ZAGREB (Croatia) - The European Central Bank (ECB) said on Friday it has agreed with the central banks of Croatia and Romania to extend their exis
ZAGREB (Croatia) – The European Central Bank (ECB) said on Friday it has agreed with the central banks of Croatia and Romania to extend their existing euro liquidity lines by six months until the end of June 2021.
“The lines were established earlier this year to provide euro liquidity to financial institutions in the two countries via their respective national central banks to address possible euro liquidity needs in the presence of market dysfunctions due to the COVID-19 shock,” the ECB said in a statement.
Under a swap line agreement, Croatia’s central bank, HNB, can borrow up to 2 billion euro ($2.38 billion) from the ECB in exchange for Croatian kuna, while Romania’s central bank, BNR, can borrow up to 4.5 billion euro under its repo line in exchange for adequate euro-denominated collateral, the ECB said
Each drawing has a maximum maturity of three months.
($=0.841513 euro)
Source : seenews.com
