Irish banks ramp up ECB borrowing

Irish banks had borrowed EUR 95 bln from the ECB as of the end of August from EUR 89.5 bln as of the end of July.

Traders have worried for months that many banks are being kept alive because of unfettered access to ECB liquidity. Without it, they would be shut out of the markets.

Also on the wire is a comment from German bank LBBW saying it will not have to raise capital under Basel III rules.

EUR/USD trades quietly at 1.2857.