LTRO2 Amount is 529.5 Billion Euro's with 800 Banks Participating

The LTRO2 news hit minutes ago.  The amount is 529.5 billion euro's. 800 banks asked for the 3-year loans, about one-third of the banks in the Eurozone. 71 of those banks aked for a one-day bridge loan yesterday.

The market reaction is muted so far. European bond yields and equities and futures markets are all moving sideways.  Traders appear to have a deer-in-the-headlight reaction, frozen in place not knowing which way to move.  Futures dropped a couple S&P's but then regained the loss to sit at 2 or 3 points on the plus side, basically flatish. The reaction to LTRO2 is subdued thus far, not producing a major impact on markets.

The ECB does not make a reference to a third round, LTRO3, yet.

LTRO1; 12/21/12:
489 billion euro's in 3-year loans
523 banks taking loans (one-fourth of the Eurozone banks)

LTRO2; 2/29/12:
529.5 billion euro's in 3-year loans
800 banks taking loans (one-third of the Eurozone banks)

Thus, the 529.5 number is above the 500 billion consensus, so a slightly larger amount than expected, but does not supply the heaping pile of crack cocaine needed to keep the party going. Market reaction remains muted as traders digest the information. U.S. futures remain flat.