Banks may have borrowed €70bn

Emergency funding to Irish banks jumped last month, with as much as €70

Emergency funding to Irish banks jumped last month, with as much as €70.1 billion loaned to the country's banks in the shape of exceptional liquidity.

That figure is a rise from €51.1 billion at the end of January.

According to figures from the Central Bank, its "other assets" stood at €70.1 billion as of February 25th.

The Central Bank has said that "other assets" includes "exceptional liquidity assistance lending" for Irish banks. However, it does not give further details.

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This liquidity makes up the bulk of the category, according to a senior central bank official, who declined to be identified, because the bank does not comment on this facility.

Bloomberg