Information on the use of cookies on the vdp website

The Association of German Pfandbrief Banks uses the Matomo software for anonymized web analysis. The data are used to optimize the website. Further information can be found in our data protection declaration.

Extension of TLTROs in 2022?

Covered bonds are one of the largest asset classes submitted to the ECB at mid-year 2021, with a portfolio of almost € 700 billion. Within the framework of the targeted long-term refinancing operations (TLTRO 3), issuers are offered very favourable conditions and an interest premium of 1 % from June 2021 to June 2022 if they achieve certain benchmarks in their lending business.

Will the ECB extend further tranches of TLTRO 2022 and/or grant the 1% interest rate premium beyond June 2022?

25 Participants

  • 24

    No, the ECB will neither tender further TLTRO 3 tenders nor grant the interest rate premium beyond June 2022.

  • 20

    No, the ECB will not extend any further TLTRO 3 tenders, but it will grant the interest rate premium beyond June 2022.

  • 56

    Yes, the ECB will extend new TLTRO 3 tranches in 2022 and continue to grant the interest rate premium beyond June 2022.