Italy, Spain Banks Are Main Takers of New ECB Loan Program
- UniCredit, Intesa increased borrowings in ECB loan program
- BBVA said to take net new money of 10 billion euros in TLTRO
This article is for subscribers only.
Italian and Spanish lenders were the biggest participants in the European Central Bank’s latest new loan program, increasing their net borrowings by more than 25 billion euros ($28 billion).
Intesa Sanpaolo SpA said it increased borrowings by about 8 billion euros in the first of four targeted longer-term refinancing operations after paying back loans under a previous program, while UniCredit SpA took an additional 3 billion euros for its domestic business. Spain’s Banco Bilbao Vizcaya Argentaria SA used net new money of 10 billion euros, said a person with knowledge of the matter, asking not to be identified because the issue is private. CaixaBank SA borrowed an additional 6 billion euros, a bank official said.