Our Business News

Business articles & tips that will guide you.

Facebook
RSS

Spanish banks sharply increased borrowing from the European Central Bank in December to 134.8 billion euros ($173.4 billion) from 106 billion euros in November, according to data released by the Bank of Spain on Friday. The figure is the highest since July 2010. While Spanish banks reduced borrowing via the ECB’s main refinancing operations to 47.1 billion euros from 54.5 billion euros, the amount borrowed at longer-term refinancing operations jumped to 85.3 billion euros from 51.8 billion euros. That suggests Spanish banks were heavy users of the three-year loans offered by the ECB last month, analysts said. “A large chunk of this money will probably be used to meet near-term refinancing needs, but some of it is surely also being used to fund the Spanish sovereign, judging from the seemingly unrelenting rally in shorter-dated Spanish bonds,” said Martin Van Vliet, economist at ING Bank in Brussels.

2012 ,

You must be logged in to post a comment.

Mexico or China for

Most large manufacturing companies in the United States often consider ...

What do small busine

When you’ve got your small business up and running it’s ...

Forex Money Manageme

One factor that ruins most hopes of making money in ...

7 Best Software and

Every company today needs a lot of software to operate ...

3 Skills Essential F

It is possible to make a healthy profit, and even ...