Italian banks looking to borrow 27 billion euros from ECB

Source: Bloomberg
© Scanpix/Reuters
The four biggest Italian banks are seeking up to 27 billion euros in the ECB's first auction of low cost cash. UniCredit is looking to take a loan of 7 billion, while the Banca Monte dei Paschi di Siena would want to receive 3 billion euros. Overall, with the largest economies in Europe either contracting or remaining steady the borrowing programme is looked forward to as this financing option is quite attractive for banks.
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