March 7, 2019 / 10:16 AM / 4 months ago

Italy's Target2 debt rises to 483 bln euros in February

MILAN, March 7 (Reuters) - The Bank of Italy’s liabilities towards other euro zone central banks rose slightly in February, data showed on Thursday.

Italy’s so-called Target2 debt stood at 482.84 billion euros ($546.19 billion) last month, the highest since November, compared to 481.97 billion euros in January, the Bank of Italy said.

A country’s Target2 position is monitored as a sign of financial stress and imbalances within the euro zone. A country’s Target2 debt could rise, for example, due to capital outflows.

Italy’s Target2 debt hit an all-time record last August at 492.53 billion euros. ($1 = 0.8840 euros) (Reporting by Alessia Pe, editing by Valentina Za)

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