17/09/2014 (Agence Europe) - Launch of TLTRO. On Thursday 18 September, the European Central Bank will commence its TLTRO, injecting massive targeted liquidity in order to encourage lending to economic operators and, ultimately, to raise the too low inflation rate in the eurozone (0.4% in August). In the two TLTRO take-ups, in September and December, banks will be able to borrow up to €400 billion in four-year cheap loans (up to 7% of the total amount of their loans to the euro area non-financial private sector, excluding loans to households for house purchase). A clause will be included in contracts to require beneficiary banks to repay borrowings if they fail to increase their lending. (MB)