Key data points
Last release
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Observation period
Nov 2025
Next release
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Forecast
—
Highest
2.21 T EUR on Sep 30, 2021
Lowest
11.23 B EUR on Nov 30, 2025
About Euro Area Longer-Term Refinancing Operations
The European Central Bank uses open market operations to steer interest rates, to manage the amount of liquidity in the financial system and to signal the monetary policy stance. Regular open market operations consist of one-week liquidity-providing operations in euro (main refinancing operations, or MROs) and three-month liquidity-providing operations in euro (longer-term refinancing operations, or LTROs).