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Italy's Target2 cross-border liabilities hit record high in Sept
October 7, 2016 / 9:52 AM / a year ago

Italy's Target2 cross-border liabilities hit record high in Sept

MILAN, Oct 7 (Reuters) - The Bank of Italy’s liabilities towards other central banks in the euro zone rose to a record high of 353.9 billion euros ($394 billion) in September from 326.9 billion euros a month earlier, data showed on Friday.

The Bank of Italy’s position within the Target2 system, which settles cross-border payments in the bloc, is closely watched. A rise can be a sign of financial stress.

Earlier this year the central bank said the rise in Target2 reflected the creation of liquidity by the European Central Bank through its quantitative easing programme.

$1 = 0.8990 euros Reporting by Giulio Piovaccari, writing by Stephen Jewkes; editing by John Stonestreet

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