Spanish Banks Debt To ECB Breaks Two Consecutive Months Of Rising
By KUNA
Spanish banks’ debt with European Central bank ECB fell to EUR 47.5 billion in June, breaking two consecutive months of rising debt.
A statement by the Central Bank of Spain said Thursday that banks’ total debt declined by EUR 5.6 billion in June compared to last May, when it reached EUR 53.1 billion. But recorded a significant decline compared to June last year when banks’ debt scored EUR 126 billion.
Spanish banks debts represented 13.29 percent of all loans the ECB grants to the rest of the Eurosystem, a proportion slightly lower than that 15.85 percent reached in May, and significantly below the figures recorded during the past year, particularly in comparison to 30 percent recorded in July last year.
Spanish debt marked its highest level in July 2010, when it exceeded EUR 130 billion. But since then, banks have significantly reduced their demands for liquidity to EUR 109 billion in August and to EUR 97 billion in September, and shrank to EUR 68 billion in October and to EUR 62 billion in November of 2010.
