Central Bank special fund lending to Irish banks down from record €70bn

THE Central Bank lent Irish banks based in the country €66.8 billion in special funding as of March 25, down a touch from the record €70bn lent the previous month, data showed yesterday.

The banks’ reliance on funding from the European Central Bank eased to €114.5 billion compared to €116.9bn as of February 25.

Reuters said the latest statistics do not take into account the ECB’s decision to suspend collateral requirements for loans to Irish banks, agreed on March 31 after Ireland outlined plans to recapitalise and significantly shrink its lenders.