The ECB says 523 banks requested a total of €489B ($641B) in its "longer-term refinancing...

|By:, SA News Editor

The ECB says 523 banks requested a total of €489B ($641B) in its "longer-term refinancing operation" in which its providing three-year loans at its benchmark rate of 1%. The figure is well above a consensus of €310B. EU shares add to gains on the news, with U.S. stock futures also jumping.