March 6, 2020 / 11:22 AM / a month ago

Italy's target 2 liabilities tick higher in February

MILAN, March 6 (Reuters) - The Bank of Italy’s liabilities towards other euro zone central banks rose slightly in February, after touching a three year low the previous month, data showed on Friday.

Italy’s so-called Target 2 debt was up to 384.717 billion euros ($435.65 billion) compared with 383.248 billion euros in January, the Bank of Italy said.

A country’s Target 2 position is monitored as a sign of financial stress and imbalances within the euro zone. Target 2 debt could rise, for example, due to capital outflows.

Italy’s Target 2 debt hit an all-time high in August 2018, reaching 492.53 billion euros. ($1 = 0.8831 euros) (Reporting by Milan newsroom, editing by Sabina Suzzi)

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