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ECB lends banks $112 billion to ease funding stress

FILE PHOTO: European Central Bank (ECB) headquarters building is seen in Frankfurt

FRANKFURT (Reuters) - The European Central Bank on Wednesday lent euro zone banks $112 billion at two auctions aimed at easing stress in the U.S. dollar funding market, part of the financial fallout of the coronavirus outbreak.

The ECB said it had allotted $75.82 billion in its new 84-day auction, introduced by major central banks last weekend in response to global demand for greenbacks, and $36.27 billion at its regular 7-day tender.

(Reporting By Francesco Canepa)