The European Central Bank is readying another round of low interest loans for Europe's banks that could top 500bn euros (£423bn, $673bn). On Wednesday it will hold its second long-term refinancing operation (LTRO), an opportunity for Europe's banks to borrow money at low interest rates. The first round was carried out on 21 December when banks borrowed 489bn euros. The programme is credited with restoring confidence in Europe's banks. "In some cases, time has been bought that will enable banks to work through their difficulties," said Bridget Gandy, in a report by the credit rating agency Fitch. But Fitch warned ... (full story)