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Lloyds gets £11.4bn from ECB
Lloyds said it had drawn down £11.4bn from the European Central Bank’s second offering of cheap three-year funds.
“Lloyds Banking Group can confirm it has drawn £11.4bn under the LTRO for an initial term of three years. The aim is to part fund a pool of non-core euro denominated assets,” Lloyds said in a statement.
Britain owns around 40 per cent of Lloyds after bailing out the bank during the 2008 credit crisis.
A total of 800 banks borrowed 530 billion euros from the ECB’s latest LTRO programme.