January 9, 2020 / 10:03 AM / 19 days ago

Italy's Target 2 liabilities rise in December

MILAN (Reuters) - The Bank of Italy’s liabilities towards other euro zone central banks rose in December, after falling sharply the previous month, data showed on Thursday.

Italy’s so-called Target 2 debt grew to 439.45 billion euros ($487.92 billion), compared with 406.28 billion euros in November, 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 record in August 2018, reaching 492.53 billion euros.

($1 = 0.9007 euros)

Alessia Pe, editing by Valentina Za

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