Tighter credit terms and conditions offered by banks to counterparties, mainly attributed to deterioration in general market liquidity and functioning Higher maximum amount of funding but shorter maximum maturity against domestic government bonds Deterioration in liquidity conditions continued for most collateral types Higher initial margin requirements for most OTC derivative types, especially commodity derivatives On balance, overall credit terms and conditions tightened over the June-August 2022 review period across all counterparty types. Price terms tightened for all counterparty types,...

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High Representative/Vice President Josep Borrell will travel to Latin America, the third time of his current mandate, starting in Uruguay on 24 October and continuing to Argentina from 25 October. His mission aims to further strengthen both bilateral and regional relations, in particular through co-chairing the EU-CELAC Foreign Ministers Meeting which will pave the way for further high-level bi-regional engagement in view of a summit next year. In Uruguay, the High Representative will meet President Luis Lacalle Pou on 24...

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Frankfurt am Main, 27 October 2022 | Good afternoon, the Vice-President and I welcome you to our press conference. The Governing Council today decided to raise the three key ECB interest rates by 75 basis points. With this third major policy rate increase in a row, we have made substantial progress in withdrawing monetary policy accommodation. We took today’s decision, and expect to raise interest rates further, to ensure the timely return of inflation to our two per cent medium-term inflation...

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ECB recalibrates third series of targeted longer-term refinancing operations (TLTRO III) to ensure consistency with broader monetary policy normalisation process Recalibration will help address unexpected and extraordinary inflation increases by reinforcing transmission of policy rates to bank lending conditions From 23 November 2022, interest rate on all remaining TLTRO III operations to be indexed to average applicable key ECB interest rates from that date onward Existing interest rate calculation maintained for period up to 22 November 2022 Modification...

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