March 25, 2020 / 10:19 AM / 10 days ago

Euro zone banks tap ECB for more dollars but demand eases

FRANKFURT, March 25 (Reuters) - Euro zone banks tapped the European Central Bank for $45.1 billion on Wednesday, mainly using a special 84-day facility put in place to accommodate a dash for cash triggered by the coronavirus outbreak, ECB data showed on Wednesday.

But demand was slowing compared with last week, when banks took up $112.1 billion. Of the $36.27 billion in ECB credit that was coming due on Wednesday, banks rolled over less than half, or $17.27 billion.

The ECB can lend U.S dollars to euro zone banks thanks to a swap line arrangement it has with the U.S. Federal Reserve. (Reporting By Francesco Canepa; Editing by Hugh Lawson)

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