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Bank of Italy liabilities towards other central banks drop in May
June 8, 2015 / 9:23 AM / 2 years ago

Bank of Italy liabilities towards other central banks drop in May

MILAN, June 8 (Reuters) - The Bank of Italy's liabilities towards other central banks of the euro zone fell in May to 164 billion euros ($183 billion) from 177 billion euros a month earlier, data showed on Monday.

The Bank of Italy's position within the Target 2 system, which settles cross-border payments in the euro zone, is monitored because its rising can be a sign of financial stress. Seasonal factors can also affect it.

In December Italy's Target 2 position hit a one-year high of 209 billion euros to decline by 45 billion euro a month later. It widened again in March to 192 billion euros.

$1 = 0.8982 euros Reporting by Valentina Za; editing by Francesca Landini

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