European Central Bank’s TLTRO-III operations borrowing allowances are set

Šiaulių Bankas AB, company code 112025254, address Tilžės str. 149, 76348 Šiauliai, Lithuania.

The Bank of Lithuania informed Šiaulių bankas AB about borrowing allowances for the third series of targeted longer-term refinancing operations (TLTRO-III): for the next four TLTRO-III operations  -  EUR 571.64 million.

It’s the first time the Bank applied and received limits for the longer-term refinancing operations organized by European Central Bank. Bank’s current liquidity buffer is more than enough with liquidity coverage ratio standing at 298% at the end of Q1 2020. The participation level in TLTRO-III will depend on the need to diversify funding sources while financing further Bank’s business growth.

The settlement of the next TLTRO-III operation is on 24 June 2020.

Interest rate on TLTRO III equals to -0.5% from June 2020 to June 2021 and for banks meeting the lending thresholds, the interest rate can be as low as -1.0%.

Aditional information:
Head of Treasury and Markets

Tomas Varenbergas, [phone], [e-mail]