French banks sell 11.8 billion euros of government debt in June -ECB

FRANKFURT, July 25 Fri Jul 25, 2014 4:17am EDT

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FRANKFURT, July 25 (Reuters) - French banks showed the strongest monthly decline in government debt holdings since the end of last year in June, data from the European Central Bank showed on Friday.

French banks sold 11.8 billion euros ($15.80 billion) in government debt in June after buying 12.5 billion euros in May, marking the largest decline since December 2013.

Italian banks sold 2.9 billion euro in government debt in June after a 5.1 billion euro decline in May.

At a market value of 425.2 billion euros, Italian banks' holdings of government bonds remain the largest in the euro zone.

Spanish banks also decreased their sovereign debt holdings, selling 1.4 billion euros in June after purchasing government bonds worth 6.3 billion euros in May. ($1 = 0.7438 Euros) (Reporting by Eva Taylor and John O'Donnell)