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Bid limits

Bid limits Information on calculating

Because the TLTRO‑I involve targeted lending, they were tied to lending to euro-area non-financial corporations and households (excluding loans to households for house purchase). The borrowing allowances for the first two TLTROs were calculated on the basis of the outstanding amounts of loans to this sector (initial borrowing allowance). For the following six TLTROs, an additional borrowing allowance was calculated on the basis of net lending.

The Deutsche Bundesbank calculated both borrowing allowances for each counterparty on the basis of the reports submitted for this purpose and notified them of these allowances at least three working days before the announcement of the tender.

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