Intesa Sanpaolo reduces its ECB TLTRO financing to 60 mln euros
MILAN, June 27 (Reuters) -Intesa Sanpaolo ISP.MI, Italy's biggest retail bank, said on Wednesday it had reduced by 9 billion euros ($9.62 billion) its exposure to cheap funds borrowed from the European Central Bank.
After the redemption of the latest (eighth) Targeted Longer Term Refinancing Operation (TLTRO 3), the funds were down to around 60 million, the lender's website showed.
($1 = 0.9358 euros)
Reporting by Alessia Pe, editing by Alvise Armellini
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