Spain: ECB loans to banks worth 337 bln

Spanish banks' borrowing from the European Central Bank jumped by 17% in June compared to the previous month and loans were worth 337,206 billion euros, according to data published today by Bank of Spain. Loans by the ECB to Spanish banks multiplied by seven in a year, from 14,777 billion euros to the 337,206 billion received in June, when the Spanish government announced its bailout request, the Bank of Spain said. In the same period, the reliance of Italian banks on EBC loans, which is lower than Spain's, remained stable. ECB loans to Spanish financial institutes included 320,036 billion euros in long-term loans, 5 billion more than the previous month. Short-term loans rose from 9.2 billion to 45 billion. In the same period Spanish banks reduced the volume of their ECB deposits from 36,829 billion to 27,792 billion euros.(ANSAmed)