7/15/2010

Spanish banks bolstered their borrowing from the European Central Bank from €85.6 billion in May to a record €126.3 billion last month. Lenders from across the euro area borrowed €496.6 billion in June, a 4% decline compared with the previous month. "The pressure for Spanish banks will keep rising as they can't raise cash in the bond markets at reasonable prices," said Thomas Nyegaard, an analyst at F&C Investments. "The lenders can hardly provide any new lending under these conditions."

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