With Albania, Croatia, Hungary, North Macedonia, Romania, San Marino and Serbia
The ECB has extended credit lines with several European central banks through which banks in these countries can supply themselves with euros during the corona crisis. The agreements with the central banks of Albania, Croatia, Hungary, North Macedonia, Romania, San Marino and Serbia are now valid until March 2022, the European Central Bank (ECB) announced in Frankfurt on Thursday.
So far, the credit lines should expire in June 2021. The aim of the agreement is to prevent the countries from experiencing bottlenecks in the provision of euro liquidity due to the pandemic.
In return, the central banks must provide adequate collateral denominated in euros. Among other things, Hungary's central bank can borrow up to four billion euros from the ECB, Romania's central bank up to 4.5 billion euros and Serbia's central bank up to one billion euros.
