Spain’s Largest Banks Borrow $26 Billion at ECB Loans Auction

Spain’s seven biggest banks borrowed as much as 21 billion euros ($26 billion) at today’s European Central Bank’s loan auction, 16 percent of the total alloted to European lenders.

Banks across the euro area took 130 billion euros at the second targeted loan offer, known as the TLTRO program, carried out by the ECB in an effort to spur lending. Banks have borrowed about 212 billion euros in total in the September and December auctions.

The following is a table of each bank’s allotment at today’s auction and the total amount borrowed in September and December, based on statements from company officials. Figures are in billion of euros.

                                      Dec.     Total
Banco Santander SA                    4.6       8.2
Banco Bilbao Vizcaya Argentaria SA    2.6       5.2
CaixaBank SA                          3.9       6.9
Bankia SA                             0.05      2.8
Banco Popular Espanol SA              2.85      5.7
Banco de Sabadell SA (a)              5.5       5.5
Bankinter SA                          1.5       1.5
TOTAL                                 21       35.7

(a)Source is person with knowledge of the matter.

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