On the other hand, at the recent October 6 meeting, the ECB decided to conduct two further one-year LTROs; to continue to apply fixed rate full allotment procedures in all monetary policy liquidity-providing operations for as long as needed and at least till the middle of 2012; and to conduct a second Covered Bond Purchase Programme (CBPP2) with an intended purchase amount of EUR 40 billion and over a period of one year starting in November 2011.
Banking Sector Performance Our banking sector continued to be resilient and strong. In year-on-year terms, total assets of banks registered a growth of 13.4 per cent and credit to the private sector increased by 10.9 per cent as at end Q3 2010. Segment A (domestic) assets grew by 7.5 per cent while Segment B (offshore) assets grew by 17.3 per cent.