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Irish banks borrowed less from ECB in February.

Irish banks had outstanding loans from ECB of €61.8 billion last month
Irish banks had outstanding loans from ECB of €61.8 billion last month

Irish banks' reliance on emergency funds from the European Central Bank fell in February.

New figures from the Central Bank show that banks had outstanding loans of €61.8 billion, down from €70.1 billion a month earlier.

The country's banks remain heavily dependent on emergency funding to run day-to-day.

But they have managed to reduce that reliance from a high of €187 billion in February 2011 by shrinking balance sheets and making a tentative return to capital markets.