ROME: The Bank of Italy’s liabilities towards other central banks in the euro zone rose to a record high of 353.9 billion euros ($394 billion) in September from 326.9 billion euros a month earlier, data showed on Friday.
The Bank of Italy’s position within the Target2 system, which settles cross-border payments in the bloc, is closely watched. A rise can be a sign of financial stress. Earlier this year the central bank said the rise in Target2 reflected the creation of liquidity by the European Central Bank through its quantitative easing programme.
