KBC used €8 billion loan portfolio as ECB collateral

Belgian bank KBC’s Irish operation pledged almost €8 billion of its loan portfolio as security for borrowing from the European Central Bank last year, according to regulatory filings.

3rd October, 2009

Belgian bank KBC’s Irish operation pledged almost €8 billion of its loan portfolio as security for borrowing from the European Central Bank last year, according to regulatory filings.

KBC Bank Ireland’s accounts for the year to December 2008 revealed that loans totalling €7.7 billion, from a total loan portfolio of €17.4 billion, were pledged as collateral under the ECB’s refinancing operations. Use of the ECB’s repurchase facilities, which have been taken up by...

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