By Polya Lesova
NEW YORK (MarketWatch) -- European Central Bank President Mario Draghi said on Thursday that the ECB will continue conducting the main refinancing operations as fixed-rate-tender procedures with full allotment for as long as necessary," and at least until July 2014. This measure represents "liquidity insurance for the banking system," Draghi said. "This is a measure that benefits all kinds of banks." Draghi said that the combination of this measure and the cut in the benchmark interest rate is "especially important." At his press conference Thursday, Draghi also said that the ECB's monetary policy has been "extraordinarily accommodative."
