Spanish banks' reliance on ECB rockets again

bank-of-spain

Spain's beleaguered banks borrowed €126.3 billion ($160.6 billion) from the European Central Bank (ECB) in June, a leap of 48% from the previous month, data published Wednesday by the Bank of Spain showed.

The sum is largest lent to Spanish banks by the single currency zone's central bank since 1999. The spike in lending came ahead of the 1 July expiry of the ECB's 12-month lending facility.

It is also second straight month in which reliance on the ECB has rocketed. In mid June, Bank of Spain fi

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