Borrowing by Spanish banks from the European Central Bank hit a new record in March at €227.6 billion ($299 billion).
The banks have snapped up emergency cheap loans, official data showed today.
The figures from Spain's central bank are a sign of weak confidence in Spain's troubled financial sector.
Commercial banks are turning to the ECB since they are struggling to borrow on interbank lending markets.
The volume of ECB borrowing by Spanish banks in March rose from previous records of €152.4 billion in February and €133.2 billion in January, the figures showed.
The figure has been growing since September and has reached record levels since the European bank in December and February offered low-rate loans to help spur lending in the euro zone.
Spanish banks have found it hard to borrow money from banks in other euro zone countries because many in Spain are heavily exposed to the property sector, which has been in a slump since a bubble burst in 2008.
As part of wide-reaching fiscal reforms, the Spanish government has told banks to build up cash reserves to a total €52 billion as a precaution against possible losses in their property portfolios.
