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ECB hands out $712B in loans to banks

FRANKFURT, Germany — The European Central Bank has made $712.4 billion in low-interest loans to banks in the second round of a massive credit infusion that has been credited with easing the eurozone debt crisis.

The offer of credit for three years was taken up today by 800 banks. The uptake was modestly higher than the $657.9 billion handed out to 523 banks on Dec. 21. Banks used some of that money to buy government bonds.

By The Associated Press

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