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Spain banks borrowing from ECB falls again in April

Source: Reuters - Tue 14th May 2013
Spain banks borrowing from ECB falls again in April

Spanish banks borrowed €265.1 billion from the ECB in April, down from €270.9 billion in March, data from the Bank of Spain showed on Tuesday, marking the 8th month of consecutive falls.

Spanish banks, which were propped up with European aid last year, borrowed an all-time high of €411 million from the ECB in August 2012.

Since then, investors have warmed to recession-struck Spain, making banks less reliant on funding from the central bank