ROME: The Bank of Italy’s liabilities towards other central banks of the euro zone eased slightly in February to 249.53 billion euros ($273 billion) from 251.26 billion euros a month earlier, data showed on Monday.
The Bank of Italy’s position within the Target 2 system, which settles cross-border payments in the euro zone, is monitored because its rising can be a sign of financial stress. However, seasonal factors such as the end of a quarter also affect it. January’s level was the highest since February 2013 when Italy’s Target 2 position topped 256 billion euros.
