The bursting of the US high-tech stock bubble in 2000, and the subsequent weakening in equity prices more generally, was not accompanied by major financial sector problems, but it has been followed by a sustained period of very weak economic growth.
These operations will provide long-term funding at attractive terms and conditions over a period of up to four years for all banks that meet certain benchmarks applicable to their lending to the real economy. This should help to ease funding conditions further and stimulate credit provision to the real economy.