Resurgent Italian banks take one-third of ECB loans

Italy’s biggest banks borrowed about €30bn in the ECB’s third targeted loan operation, about a third of the total.

Banks across Europe took €97.8bn in targeted loans, or TLTROs, offered by the ECB in an effort to stimulate the economy. That compares with some €130bn borrowed in December and €82.6bn in September.

By tying cheap four-year credit to the size of banks’ loan books, the ECB is betting the funds will spur lending to companies and individuals.