Citigroup earnings boost (most) banks

Citigroup earnings boost (most) banks

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European Central Bank lowers collateral standards signaling that stress is still rising in European banking sector

Today, the European Central Bank agreed to accept lower-rated asset-backed securities as collateral for loans to European banks. Even after the central bank’s huge provision of cash through its December and February 3-year loan facility, some banks are having trouble funding their operations because they don’t have enough collateral under the former rules to use to secure central bank loans.