Indeed, Deutsche Bank has already stopped participating in refinancing operations.

These are essentially refinancing mechanisms.

We strongly support pursuing the establishment of such a facility, including refinancing mechanisms.

Moreover, not forbidding indirect purchases should be seen primarily as a means of permitting banks that buy government bonds to pledge them as collateral for refinancing operations, while bearing the full investment risk.

The ESM should be sufficient to deal with the refinancing needs of Greece, Ireland, and Portugal.

The capacity for continuing this policy will soon be depleted, as the central bank money flowing from the GIPS countries to the core countries of the eurozone increasingly crowds out the money created through refinancing operations there.

Without additional refinancing mechanisms, there would be a sharp decrease in flows of official development assistance after 2015.

Nonetheless, the ECB has provided large amounts of liquidity to the financial system, indirectly softening the pressure on government debt refinancing.

The ECB s long term refinancing operation enabled Spanish and Italian banks to buy their own countries bonds and earn a large spread.

The polarization of borrowing costs has politically explosive distributional effects Germany is borrowing and refinancing its existing debt at artificially low interest rates.

With international investors no longer willing to finance this deficit, and even shying away from refinancing existing Greek debt, only three possibilities remain.

To the extent that banks are, by far, the ECB s main instrument for non standard refinancing, this message is particularly important in Europe.

The exemption for secured debt undoubtedly concerns mainly the refinancing loans that the ECB has extended to commercial banks against increasingly weak collateral.

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The economy grew, but mainly because American families were persuaded to take on more debt, refinancing their mortgages and spending some of the proceeds.

If this continues for two more years as it has for the past three, the stock of refinancing loans in Germany will disappear altogether.

As a result, refinancing of mortgages will grind to a halt, leaving no money to draw out of housing to sustain Americans consumption binge.

Indeed, Italy boasted the lowest deficit to GDP ratio in the eurozone, and the Italian government had no problem refinancing at attractive interest rates.

The ECB has been providing virtually all of its refinancing credit to the eurozone s five crisis stricken countries Italy, Spain, Portugal, Greece, and Ireland.

Moreover, it has provided loans to the banking sector, recently launching a three year refinancing operation that generated demand from eurozone banks for 489 billion.

The bank s overnight deposit facility rose from 250 billion to 400 billion just after the extraordinary refinancing operation and to 480 billion in recent days.

In doing so, however, it put itself in peril, because the only way to implement the shift was by lowering the collateral requirements for refinancing credit.

Indeed, some experts, too, believe that the crisis can be resolved simply by refinancing banks, and that the impact on the real economy will be relatively limited.

Sixth, rising government debt ratios will eventually lead to increases in real interest rates that may crowd out private spending and even lead to sovereign refinancing risk.

The ECB shifted its refinancing credit and money creation to the tune of 900 billion toward southern Europe and Ireland, as measured by the Eurosystem s Target balances.

Creating skills, establishing market connectivity, expanding infrastructure and services, and then refinancing and sharing the risk of financing micro and small enterprises would all require additional finance.

56. In February 1993, the Lieutenant Governor held consultations with major insurance companies while attending a meeting in New York on the subject of insurance bond refinancing.

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Two thirds of all refinancing loans within the eurozone were granted within the GIPS countries, despite the fact that these countries account for only 18 of eurozone GDP.

At the same time, the European Central Bank unleashed its 1 trillion ( 1.3 trillion) long term refinancing operation, which pulled the European banking system back from the brink.

And that's why I'm sending this Congress a plan that gives every responsible homeowner the chance to save about 3,000 a year on their mortgage, by refinancing at historically

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