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UPDATE 1-Main Italian lenders took 23 bln euros of cheap ECB cheap
September 18, 2014 / 2:07 PM / 3 years ago

UPDATE 1-Main Italian lenders took 23 bln euros of cheap ECB cheap

(Adds Popolare Sondrio took 350 mln euros)

MILAN, Sept 18 (Reuters) - Eleven Italian banks including top three lenders Intesa Sanpaolo, UniCredit and Monte dei Paschi di Siena took 23.3 billion euros ($30 billion) in cheap funds from the European Central Bank on Thursday, data compiled by Reuters shows.

The amount represents about 28 percent of the 82.6 billion euros in new four-year loans the ECB handed to 225 euro zone lenders, in a bid to stave off price deflation and revive the ailing euro zone economy.

A breakdown by bank shows UniCredit took 7.75 billion euros; Intesa 4 billion euros; Monte dei Paschi 3 billion euros; Iccrea Banca 2.24 billion, on behalf of 190 small cooperative lenders; Popolare dell'Emilia Romagna 2 billion euros; Banco Popolare and Credito Valtellinese 1 billion euros each; Credem 735 million euros; Carige 700 million euros; Mediobanca 570 million euros and Popolare Sondrio 350 million euros.

Ubi, Popolare Milano, Popolare Vicenza and Veneto Banca said they had not requested any ECB funds.

The 15 banks contacted by Reuters are those that are being scrutinised by the ECB as part of a health check of European lenders.

1 US dollar = 0.7767 euro Reporting by Andrea Mandala and Elvira Pollina; editing by David Clarke

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