Spanish Banks Boost ECB Borrowing to Record in June

Spanish banks borrowed a record 126.3 billion euros ($161 billion) from the European Central Bank in June as investors shun the debt-ridden nation’s lenders.

Spanish banks increased borrowing 48 percent from 85.6 billion euros in May, according to daily averages compiled by the Bank of Spain. That compares with a drop of 4 percent to 496.6 billion euros provided to lenders by the ECB in the whole euro area.