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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG -- Ignore unavailable to you. Want to Upgrade?

To: Wade who wrote (40651)	1/31/2013 3:47:58 PM
From: Wade	1 Recommendation Respond to of 48092

I missed this news. ECB: Banks will repay $183B in loans early http://www.usatoday.com/story/money/business/2013/01/25/ecb-banks-repay-loans/1864109/ STORY HIGHLIGHTSEuro zone banks will repay $183 billion in emergency loans early278 banks will repay their loans this monthBanks can now borrow from the ECB at 0.75% interest BERLIN (AP) — Euro area banks stepped forward Friday to make the first of what's expected to be €137.2 billion ($183 billion) in early repayments on the cheap, three-year emergency loans they received from the European Central Bank. The ECB launched an unprecedented €1 trillion ($1.3 trillion) loan operation at the end of 2011 and in February 2012, in an attempt to relieve stress on banks at the height of the debt crisis in the group of the 17 European Union countries that use the euro. The ECB's aim was to ensure lenders had enough cash to do business so the flow of credit to businesses wasn't squeezed. The loans have been credited with easing the region's debt crisis, not least by easing fears that one or more shaky banks might fail. Banks were given the option to pay back the loans early, with the repayment window opening at the end of January. Analysts have been eager to see how many banks would do that, as it would give an indication whether parts of the eurozone's financial system were returning to health. The central bank said Friday that 278 lenders will make early repayments on Jan. 30. The expected total is on the low end of economists' forecasts for repayments that ranged from €100 to €200 billion. In keeping with the ECB's usual practice, the central bank identified neither the lenders repaying early, nor the countries they come from. ..more