Reuters reports Italian banks taking advantage of the ECB's LTRO this morning with more than a...

|By:, SA News Editor

Reuters reports Italian banks taking advantage of the ECB's LTRO this morning with more than a dozen lenders tapping the central bank for €116B. Possibly short of collateral, the banks rushed to issue €40B in state-backed bonds, which they then turned around and presented to the ECB. This should end well.