MILAN Dec 9 (Reuters) – Italy’s Banco BPM (BAMI.MI) has repaid on Friday round 12.5 billion euro ($13.2 billion) in loans from the European Central Financial institution (ECB), a supply near the financial institution stated.
The early reimbursement leaves the Italian third-largest banck with round 26.7 billion euros in excellent Focused Longer Time period Refinancing Operation (TLTRO) III funds, the supply added.
The financial institution had not repaid any of the ECB’s funds, which might be returned throughout a particular November timeframe.
The ECB has given banks an incentive to do away with these loans by taking away a price subsidy in October. It was its first transfer to mop up money from the banking system and step one in direction of unwinding its huge bond purchases.
($1 = 0.9492 euros)
Andrea Mandalà, enhancing Federico Maccioni
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