Meanwhile, however, the ECB also made regular one-week euro loans that saw strong demand, with banks signing up for a total of more than 310 billion euros ($424 billion).
The dollar operation has become a daily event aimed at keeping the
Commercial banks paid an average of 2.23 percent for the
For its weekly euro loans, the ECB charged its benchmark rate of 3.75 percent.
On Monday, the central bank said it also would provide an unlimited amount of dollars to eurozone banks in one-week, one-month, and three-month loans at a fixed rate of interest that economists said should serve to calm tension on the markets.
The money markets determine the availability of credit for vast numbers of people around the globe, from managers trying to fund their businesses to families and students seeking mortgages and personal loans.
Commercial banks generally lend and borrow cash from each other on interbank markets but these have dried up since the
The ECB and other major central banks have been pumping huge amounts of cash in the form of loans to ease turmoil stemming from the latest crisis in the