The take-up in the TLTRO-II, compares with a net 31 billion euros, when Spanish and Italian banks were the biggest participants. The cost of the four-year loans could drop as low as the deposit rate of minus 0.4 percent if the banks expand credit supply, meaning the ECB would be paying financial institutions to take its cash. Source Bloomberg
Turkey saw 72,937 house sales in January with a 24.8-percent annual fall, the country’s statistical office announced on Feb. 18. The Turkish Statistical Institute (TÜİK) said 31,048 newly-built houses were sold while the rest were second-hand sales last month. Source Daily News
- China’s car sales in January fell 15.8 percent from last year, China’s Association of Automobile Manufacturers said.
- This marks the seventh straight month of declining sales in the world’s largest auto market.
- Beijing is now trying to persuade consumers to loosen their purse strings and has pledged to provide subsidies to boost rural sales of some vehicles and purchases of new energy vehicles.
- China’s car sales in January fell 15.8 percent from last year, China’s Association of Automobile Manufacturers said.
- This marks the seventh straight month of declining sales in the world’s largest auto market.
- Beijing is now trying to persuade consumers to loosen their purse strings and has pledged to provide subsidies to boost rural sales of some vehicles and purchases of new energy vehicles.
The biggest U.S. bank said it developed a prototype digital coin that it plans to use to speed up payments between corporate customers. The token, dubbed JPM Coin, is based on blockchain technology, a decentralized public ledger of transactions that offers more speed because it doesn’t rely on a central record keeper. Source: Bloomberg
