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Interbank market still not working despite ECB-Unicredit
March 14, 2012 / 9:53 AM / 6 years ago

Interbank market still not working despite ECB-Unicredit

ROME, March 14 (Reuters) - Banks in Europe are still not lending to each other despite cheap three-year loans to the financial system offered by the European Central Bank, Unicredit Chief Executive Federico Ghizzoni said on Wednesday.

“Liquidity still isn’t abundant despite the injection of funds by the ECB,” Ghizzoni said at a conference in Rome.

“Unfortunately the interbank market is still not working and it’s difficult to find medium and long-term funding,” he added.

Reporting By Stefano Bernabei, writing by Gavin Jones

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