Italy's Target2 debt rose sharply in December

MILAN (Reuters) - Italy's liabilities towards other euro zone central banks rose by over 24 billion euros in December, central bank data showed on Monday.

Data published by the Bank of Italy showed Italy's Target2 debt increased to 684.31 billion euros ($730.43 billion) at the end of December from 659.74 billion euros in the previous month.

Italy's Target2 debt rose in September to its record high of 714.93 billion euros.

Italy started publishing its Target2 debt position in September 1997.

The European Central Bank's funding to Italian banks were sharply down to 356.45 billion in December from 415.07 billion euros the previous month, the data also showed.

($1 = 0.9369 euros)

(Reporting by Sara Rossi, editing by Alvise Armellini)