MILAN, Dec 9 (Reuters) – Italy’s UniCredit (CRDI.MI) stated on Friday it had repaid round 29 billion euros ($30.56 billion) in loans from the European Central Financial institution (ECB), a financial institution’s spokesperson stated.
The early compensation leaves the group with round 78 billion euros in excellent Focused Longer Time period Refinancing Operation (TLTRO) III funds.
The ECB has given banks an incentive to do away with these loans by taking away a charge subsidy in October. It was its first transfer to mop up money from the banking system and step one in the direction of unwinding its huge bond purchases.
($1 = 0.9489 euros)
Reporting by Gianluca Semeraro; enhancing by Federico Maccioni
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