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Spanish banks borrowing record sums from ECB.

Global Banking News-16 June 2010-Spanish banks borrowing record sums from ECB(C)2010 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 16 June 2010(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Figures show that Spanish banks are borrowing record sums of money from the European Central Bank (ECB).

Banks in Spain are believed to have increased their borrowing from the ECB as financial institutions in the country are finding it difficult to borrow from the international capital markets.

Figures indicate that Spanish banks borrowed EUR85.6bn from the ECB last month, which is double the amount they borrowed before the collapse of Lehman Brothers in September 2008. The amount is also 16.5 per cent of net eurozone loans offered by the central bank.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Jun 16, 2010
Words:149
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