长期再融资操作

长期再融资操作已经降低了一些银行对回购市场资金的依赖度。

The LTRO has reduced the reliance by some banks on funding from the repo market .

长期再融资操作使西班牙和意大利的银行能够利用本国债券开展高利润、低风险的套利交易。

The LTRO enabled Spanish and Italian banks to engage in very profitable and low-risk arbitrage in their own countries ' bonds .

他的第一项措施是针对银行引入长期再融资操作（ltro）计划。

His first move was to introduce the longer-term refinancing operation for banks .

就欧洲央行（ecb）而言，我预计退出程序的第一步，会是撤出其长期再融资操作，然后是收紧普通流动性政策的实施。

For the European Central Bank , I would expect the programme to begin with a withdrawal of long-term refinance operations , to be followed by a tightening of the conduct of ordinary liquidity policies .

欧洲央行（ecb）实施的长期再融资操作（ltro），已经减轻了银行业和主权债务等金融市场的压力。

The longer-term refinancing operations of the European Central Bank have relieved pressure on both banks and financial markets , including the markets for sovereign debt .

欧洲央行（ecb）去年12月份实施的长期再融资操作（ltro）缓解了欧洲银行的流动性问题，但没有解决负债累累的欧元区成员国的融资问题。

The longer-term refinancing operations launched by the European Central Bank in December have relieved the liquidity problems of European banks , but not the financing disadvantage of the highly indebted member states .

银行将如何使用这笔3年期贷款（称为长期再融资操作，简称：LTRO），一直是市场热议的话题。

How banks will use the three-year loans , called longer-term refinancing operations or LTROs , has been a matter of much debate in markets .

美联储、英国央行（boe）或日本央行（boj）进一步推出量化宽松措施，或者欧洲央行进行进一步长期再融资操作的希望支撑着市场，而关于不干预市场的决定却可能导致股市暴跌。

Hopes of further quantitative easing from the Fed , the Bank of England , or the Bank of Japan or further longer-term refinancing operations from the ECB buoy markets , while decisions not to intervene can cause stocks to plummet .

欧洲央行本月早些时候宣布将提供一笔被称为长期再融资操作（LTRO）的应急3年期贷款，以帮助银行应对将于明年到期的价值7200欧元的贷款。

The ECB announced the emergency three-year loans , known as longer-term refinancing operations , or LTROs , earlier this month , in an attempt to help banks overcome € 720bn worth of funding due to mature next year .

第一根稻草是欧洲央行去年12月份宣布的新一轮长期再融资操作。

The first is the new long-term refinancing operation , announced by the ECB last month .

就拿较长期再融资操作来说，这实际上是针对较弱银行的一种救助机制。

Take the longer-term refinancing operations , which in effect worked as a rescue mechanism for weak banks .

很多分析师认为，长期再融资操作将为解决危机争取到至少一年的时间，但他们却没有关注这段时间会被如何利用。

Many analysts thought that LTROs would buy at least a year , without focusing on how that time would be used .

在欧洲央行的三年期长期再融资操作中，欧元区银行去年12月份和今年2月份总共从欧洲央行借入了超过了1万亿欧元。

Eurozone banks borrowed more than a € 1tn from the ECB in December and February via its three-year longer-term refinancing operations .

这些数据支持了银行业分析师的预测，他们认为利用长期再融资操作是政府债券价格上涨背后的一个重要因素。

The figures support forecasts from banking analysts that suggested the use of the ltro had been a significant factor behind a government bond rally .

由于银行用这些利率为1%的资金对债务进行再融资并购买银行债券，长期再融资操作正在多大程度上支持主权债券拍卖或增加对企业放贷，一直是人们在猜测的问题。

With banks using the 1 per cent money to refinance debt and buy bank bonds , the extent to which ltros were helping to support sovereign bond auctions or increase lending to companies had been a matter a speculation .

汇丰控股说，早些时候的反弹主要是因为欧洲央行意外宣布了所谓的长期再融资操作，这一操作使欧洲的银行可以以较低的利率借款，从而减轻了银行的压力。

That earlier rally , the bank says , was driven largely by the ECB 's unexpected announcement of its so-called long-term refinancing operation , in which European banks were able to borrow at low interest rates , which eased pressure on the banks .