Intesa could use cash buffer to pay back LTRO - exec

MILAN Tue May 14, 2013 9:50am EDT

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MILAN May 14 (Reuters) - Intesa Sanpaolo could use a 20-billion euros special cash buffer it built up over the first quarter to start paying back cheap loans it took from the European Central Bank, deputy CEO Carlo Messina said on Tuesday.

Messina told analysts on a conference call the liquidity buffer would be used, in this order, to increase assets under management, pay back the so-called LTRO, slightly increase government bond holdings and then increase lending.

(Reporting By Silvia Aloisi; editing by Francesca Landini)

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