Longer-Term Refinancing Operations In the Euro Area decreased to 12.99 EUR Billion in July from 13.71 EUR Billion in June of 2025. Longer-Term Refinancing Operations in Euro area averaged 480.97 EUR Billion from 1999 until 2025, reaching an all time high of 2213.15 EUR Billion in September of 2021 and a record low of 12.99 EUR Billion in July of 2025. source: European Central Bank

Related	Last	Previous	Unit	Reference
Central Bank Balance Sheet	6089393.00	6084159.00	EUR Million	Aug 2025
Deposit Facility Rate	2.00	2.00	percent	Aug 2025
Foreign Exchange Reserves	100.41	99.05	USD Billion	Jul 2025
Interbank Rate	2.05	2.08	percent	Sep 2025
ECB Interest Rate	2.15	2.15	percent	Aug 2025
Marginal Lending Rate	2.40	2.40	percent	Jul 2025
Loans to Households YoY	2.40	2.20	percent	Jul 2025
Loans to Non-financial Corporations	5258232.00	5252852.00	EUR Million	Jul 2025
Longer-Term Refinancing Operations	12.99	13.71	EUR Billion	Jul 2025
Money Supply M1	10808139.00	10809091.00	EUR Million	Jul 2025
Money Supply M2	15734141.00	15717906.00	EUR Million	Jul 2025
Money Supply M3	16924033.00	16915373.00	EUR Million	Jul 2025
Refinancing Operations	8.06	11.29	EUR Billion	Jul 2025

ECB Longer-term Refinancing Operations (LTROs)

The European Central Bank uses open market operations to steer interest rates, to manage the amount of liquidity in the financial system and to signal the monetary policy stance. Regular open market operations consist of one-week liquidity-providing operations in euro (main refinancing operations, or MROs) and three-month liquidity-providing operations in euro (longer-term refinancing operations, or LTROs).