Draghi Seen Delivering $1 Trillion to Banks in ECB Offer

Mario Draghi’s newest stimulus tool will hand banks more than 700 billion euros ($950 billion) of cheap funding, economists say.

The European Central Bank president’s targeted lending program for banks will boost credit for the real economy as planned, and at the same time help keep the financial system flush with cash, according to the Bloomberg Monthly Survey of 45 economists. Draghi highlighted the measure in testimony to lawmakers today in Strasbourg, saying that it has “strong incentives” built in to spur lending.