| Debt of Spanish banks to ECB sets new record in August |
| Last Updated(Beijing Time):2012-09-15 06:14 |
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The debt of Spanish banks to the European Central Bank (ECB) set a new record in August, the Bank of Spain said on Friday.
The debt that the Spanish banks have to repay to the ECB in August reached 388.736 billion euros (510.369 billion U.S. dollars).
This implies a 3.5-percent increase compared with July, when there were 375.549 billion euros of debt.
Figures from the Bank of Spain show that the debt has increased fivefold from August 2011 to August 2012.
On the other hand, net financing to Spanish financial institutions represent 43.9 percent of the eurozone's total. This was the first time since February that this figure is below 50 percent.
The Bank of Spain also reported on Friday Spanish government debt reached a record high of 75.9 percent of GDP in the second quarter of the year, a figure that will increase because of the bailout to recapitalize the Spanish banking system. (1 euro = 1.31 U.S. dollars) |
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