Italian bank holdings of domestic govt bonds rise to highest since May 2017

MILAN: Italian government bonds held by banks operating in the country rose to 391.08 billion euros ($445.64 billion) in January from 377.75 billion a month earlier, European Central Bank data showed on Wednesday.

The January's figure marks the highest level since May 2017.

Domestic banks have stepped up purchases of government bonds as foreign investors reduced their holdings in the last few months due to the anti-austerity and anti-European stance of the country's new government.