June 16, 2014 / 9:12 AM / in 3 years

Popolare Milano repays another 500 mln euros in LTRO funds-source

MILAN, June 16 (Reuters) - Banca Popolare di Milano has repaid another 500 million euros ($681 million) in funds borrowed from the European Central Bank at the peak of the euro zone crisis, a source close to the Italian bank said on Monday, in a sign of better funding conditions for banks in the bloc’s periphery.

The source said the bank now held 2.8 billion euros in longer-term funds the ECB lent banks at two extraordinary liquidity tenders in late 2011 and early 2012.

In September 2012 the bank had 6.1 billion euros in such loans.

$1 = 0.7345 Euros Reporting by Andrea Mandala, writing by Valentina Za, editing by Paola Arosio

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