The ECB's first supplementary longer-term refinancing operation (LTRO) with a six-month maturity was announced March 2008. Previously the longest tender offered was three months. It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations (LTROs). The first tender was settled 3 April, and was more than four times oversubscribed. The €25 billion auction drew bids amounting to €103.1 billion, from 177 banks. Another six-month tender was allotted on 9 July, again to the amount of €25 billion. The first 12-month LTRO in June 2009 had close to 1100 bidders.
The ECB 's first supplementary longer - term refinancing operation ( LTRO ) with a six - month maturity was announced March 2008 . Previously the longest tender offered was three months . It announced two 3-month and one 6-month full allotment of Long Term Refinancing Operations ( LTROs ) . The first tender was settled 3 April , and was more than four times oversubscribed . The € 25 billion auction drew bids amounting to € 103.1 billion , from 177 banks . Another six - month tender was allotted on 9 July , again to the amount of € 25 billion . The first 12-month LTRO in June 2009 had close to 1100 bidders .
How long had the time to maturity been previously?
How long had the time to maturity been previously ?
three months
three months