ECB funding to Italian banks fell in January

MILAN: Overall funding from the European Central Bank to Italian banks fell to 223.7 billion euros ($304 billion) in January from 235.9 billion euros in December, the Bank of Italy said, as lenders returned 13 billion euros they had borrowed at ECB main refinancing operations.

Reliance on longer-term funding grew marginally to 214.5 billion euros last month, from 213.7 billion euros in December, the central bank said.