Barclays taps ECB FOR £6.8bn

Barclays said it tapped the European Central Bank (ECB) for 8.2 euros (£6.8bn) at its offer for ultra-cheap long-term funding this week.

Barclays did not take any cash at the previous offer in December, and had indicated it had no plans to take any funds.

It said on Friday the money would be used to manage funding gaps in Spain and Portugal, with £6.2bn of the funds earmarked for Spain.

Any funding benefit would be ring-fenced and "not contribute to the remuneration of any personnel," the bank said in a statement.