Feb. 14 (Bloomberg) -- Spanish banks’ average borrowings from the European Central Bank rose in January to 133.2 billion euros ($175 billion), the highest on record.
Borrowings climbed from 118.9 billion euros in December, the Bank of Spain said on its website today. Last month’s figure is almost double the 69.3 billion euros for September.
Lenders have increasingly tapped the ECB after Europe’s debt crisis intensified, making it harder for them to line up other funding. The ECB injected 489 billion euros into the European banking system in December in three-year loans, and plans another longer-term refinancing operation at the end of this month.
Banco Bilbao Vizcaya Argentaria SA, Spain’s second-biggest lender, said it borrowed 11 billion euros in December while Banco Popular Espanol SA took 8.5 billion euros of the three- year loans. Banco Espanol de Credito SA tapped the three-year loans and re-deposited the funds with the ECB, the bank said on Jan. 12.
--With assistance from Harumi Ichikura in London. Editors: Keith Campbell, Francis Harris
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