AOL.com Video - Demand for ECB Loans Surpasses Expectations

VIDEO:News

Demand for ECB Loans Surpasses Expectations

Description:Higher than expected demand from European banks for the European Central Bank's first ever offer of three-year loans. 523 banks borrowed a combined sum of just over 489 billion euros from the ECB at a fixed rate - well above the 310 billion predicted by analysts in a Reuters poll. Stocks briefly rose on the news but the euro was very volatile. (2:13)

Source: Reuters

Tags: EU debt crisis , europe bank loans , europe economy , european central bank