longer-term refinancing operation

What is longer-term refinancing operation?

longer-term refinancing operation definition and meaning on Finance terms:
A regular open market operation executed by the Eurosystem in the form of a reverse transaction. Longer-term refinancing operations are carried out through monthly standard tenders and normally have a maturity of three months. See also
reverse transaction<


reference: https://www.ecb.europa.eu/home/glossary/html/index.en.html