News Headline Summary

ECB says banks to repay EUR 3.484bln of 3y LTRO on Feb-6th

- ECB says 27 banks to participate.

Update details:

- EONIA curve bull flattened following the release, in reaction to a much smaller than expected repayment of 3y LTRO banks (exp EUR 20bln). Front end of the curve is also better bid, Mar-Schatz future prints fresh session high at 110.290.

Reaction details:

- In immediate reaction to the lower than expected number:
- Bund futures moved 20 ticks higher from 141.68 to 141.88.
- EUR/USD moved 17 pips lower from 1.3659 to 1.3642.
- Dax future moved from 7810 to 7787.

Print 11:03, 01 Feb 2013 - ECB - Source: Newswires