Benoit Coeure, the European Central Bank Executive Board member in charge of markets, said he doesn’t see any reason to dilute the effect of negative interest rates on banks and signaled a new long-term loan series may be less generous than the previous round. “At the current juncture, I do not see the monetary policy argument for tiering,” Coeure said in an interview with Germany’s Frankfurter Allgemeine Zeitung published on the ECB’s website Tuesday. “Those who would profit from tiering are, above all, banks with high excess liquidity, of which many are located in France and Germany where bank lending is already ... (full story)