The European Central Bank (ECB) allotted 529.5 billion euros to 800 banks that participated in the ECB's second LTRO (Longer-Term Refinancing Operation). This compares to December's LTRO, in which 489 billion euros were allotted to 500 banks. The ECB next meets to review monetary policy settings on the 8th of March. The ECB last cut its main interest rate by 25 basis points to 1.00% in December last year. The Euro is down about 2% against the US dollar over the past year, with the EURUSD exchange rate last trading around 1.337.