Banks in Spain, France and Italy sell govt bonds in July -ECB
FRANKFURT Aug 28 (Reuters) - Spanish, Italian and French banks offloaded some of their government bonds in July, European Central Bank data showed on Wednesday.
Spanish banks sold 5.8 billion euros worth of government bonds in July, reversing the 16.5-billion-euro increase in June.
Italian banks also sold some of their sovereign debt, recording a 6.3 billion euro decrease after a 10.8 billion rise in June.
The fall was the largest in France, where banks sold 21.7 billion euros worth of government bonds from their portfolios in July. Adjusted for market value, banks' sovereign debt holdings fell to their lowest since August 2012.
The ECB data do not break down which countries' debt banks hold, but with a recent easing of market pressure on the governments struggling most with high debt, foreign and local investors are returning to euro zone bond markets. (Reporting by Sakari Suoninen)
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