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Cheap cash repairs balance sheets
Eurozone banks’ balance sheets stabilised in January thanks to major support given out by the European Central Bank (ECB) at the end of December, figures out yesterday showed. Bank lending to businesses fell by €1bn (£0.85bn), compared to €35bn in December. The ECB gave three-year loans worth a total of €489bn to Eurozone banks in its first long-term refinancing operation (LTRO), which will be repeated this week.