ROME: The Bank of Italy’s liabilities towards other central banks in the euro zone fell to 177.2 billion euros in April, from 191.5 billion euros in March, data showed .
Italy’s position within the so-called Target2 system – which settles cross-border payments in the euro area – worsens during period of financial stress, mirroring outflows from the domestic banking system.
Italy’s Target 2 balance jumped above 200 billion euros in December, to its highest since December 2013.
The Bank of Italy explained that increase to technical factors and temporary operations.
