Chart 7 Evolution of expected use of TLTRO III funds from the June 2020 operation (left and central columns: share of respondents weighted by change in TLTRO III uptake; right column: share of respondents weighted by net liquidity injection)  https://www.ecb.europa.eu/press/key/date/2020/html/ecb.sp201006~e1d38a1ccc.en.html  8/12  07/10/2020  The ECB’s monetary policy in the pandemic: meeting the challenge  Sources: ECB, euro area bank lending survey and ECB Banking Supervision survey on TLTRO III.4 use.
Notes: The four bars on the right column measure the net liquidity injection in the June 2020 operation (change in TLTRO III take-up net of TLTRO II repayments and maturing bridge longer-term refinancing operations).