ReutersReuters

Italy's Target2 jumps to new record high in June

Italy's liabilities towards other euro zone central banks jumped to a new record high in June, central bank data showed on Thursday.

Data published by the Bank of Italy showed Italy's Target2 debt increased to 627.68 billion euros ($638.92 billion) at the end of June from 596.91 billion euros in May.

Italy started publishing its Target2 debt position in September 1997.

The European Central Bank's funding to Italian banks decreased to 431.94 billion in June from 453.39 billion euros the previous month, the data also showed.

A country's Target2 position is monitored as a sign of financial stress and imbalances within the euro zone.

Target2 debt could rise, for example, due to capital outflows. It also reflects increased reliance of domestic banks on ECB's funding.

($1 = 0.9824 euros)

Tiếp tục đọc
Đăng nhập hoặc đăng ký tài khoản TradingView miễn phí và tận hưởng quyền truy cập vào tin tức tài chính toàn cầu theo thời gian thực.