Bank of Italy Says ECB Funds to Italy Banks Rise 0.6% in May
06/07/2012| 06:10am US/Eastern
By Liam Moloney
Italian banks tapped the European Central Bank for 272.7 billion euros ($343.1 billion) In May, a 0.6% rise from the previous month, said the Bank of Italy Thursday.
Funding from the ECB to local banks increased to EUR272.70 billion from EUR270.97 billion in April, the central bank said.
The banks took out EUR268.69 billion in longer-term loans, up from EUR268.38 billion at the end of April, the data showed.
Money from the ECB's weekly refinancing operations were EUR4.01 billion in May, or higher than the EUR2.59 billion in April, it added.
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