ECB’s Data Show Possible Increase in Borrowing by Cypriot Banks - Bloomberg

ECB’s Data Show Possible Increase in Borrowing by Cypriot Banks - Bloomberg

"A 26 percent jump in a line item on the European Central Bank’s balance sheet is pointing to a rise in emergency borrowing by Cypriot and Greek banks...
A total of 378 billion euros was pulled from the banks in Ireland, Spain, Portugal, Greece and Italy in the 13 months that ended in August, according to data compiled by Bloomberg. The flight was reversed after the ECB pledged to buy government bonds of countries that apply for aid and agree to reforms...
Spanish and Italian banks have been the biggest borrowers of ECB cash. In February, Spanish banks were borrowing 272 billion euros from the central bank, and Italian banks had 281 billion euros."