Some of Europe's largest banks might pay back money borrowed from the European Central Bank in the near future. Conditions of the longer-term refinancing operation allow banks to repay after 12 months, or this December. Meanwhile, the European Banking Authority encouraged banks to reduce dependence on ECB funding. "The EBA is discussing possible policy actions, which could accompany this process of deleveraging and restructuring to ensure it develops in an orderly and measured way allowing banks to maintain orderly provision of credit to the real economy," said Chairman Andrea Enria.

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