September 6, 2019 / 9:00 AM / a month ago

Italy's Target 2 liabilities rise in August

MILAN, Sept 6 (Reuters) - The Bank of Italy’s liabilities towards other euro zone central banks grew in August, after falling for each of the previous three months, data showed on Friday.

Italy’s so-called Target 2 debt rose to 443.68 billion euros ($489.82 billion), compared with July’s 14-month low of 435.89 billion euros, the Bank of Italy said.

A country’s Target 2 position is monitored as a sign of financial stress and imbalances within the euro zone. Target 2 debt could rise, for example, due to capital outflows.

Italy’s Target 2 debt hit an all-time record in August last year, reaching 492.53 billion euros ($1 = 0.9058 euros) (Reporting by Alessia Pé, editing by Stephen Jewkes)

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