More than half of the 800 lenders that tapped the European Central Bank’s Feb. 29 tender of three- year loans were German, mainly small savings and cooperative banks, Die Welt newspaper reported.
Germany’s biggest 15 so-called systemically relevant banks were underrepresented in the tender with fewer than half tapping the loan and, while numerous, the savings and cooperative banks borrowed small sums, the newspaper said in a pre-released report. It didn’t say where it got the information.
In all, German banks borrowed less than 10 percent of the tender, worth 529.5 billion euros ($699 billion), compared with 26 percent, or 140 billion euros, borrowed by Italian banks, Die Welt said. German banks make up a quarter of the euro-area’s total bank balance sheet while Italian banks have a 12 percent share, the newspaper said.
To contact the reporter on this story: Brian Parkin in Berlin at email@example.com
To contact the editor responsible for this story: James Hertling at firstname.lastname@example.org