Potential for Third LTRO Increasing

From fitchratings.com

The likelihood that a third longer-term refinancing operation (LTRO) will be needed by certain banks in ‘peripheral’ eurozone countries is increasing due to worries over eurozone sovereigns, limited deleveraging ability and flat-to-negative deposit trends among other factors, Fitch Ratings says. The timing of any further LTRO is uncertain, but is unlikely to be imminent without a further significant shock, such as a Greek exit from the eurozone. If a third LTRO is needed, we believe it will be provided. The first two 3-year LTROs injected around EUR1tn into the European banking system and helped to ease wholesale ... (full story)