Spanish banks increased longer-term borrowing from the European Central Bank last month to the most in 1 1/2 years, according to data compiled by the Bank of Spain.

The country’s lenders raised 89.4 billion euros ($109 billion) from ECB loans mostly due in three months, the highest level since at least November 2008, Bank of Spain data show. That’s about 13.5 percent of the 664 billion euros the ECB provided under its longer-term financing program.

Spain’s banks are tapping the ECB as the country’s worst recession in 60 years drives up client defaults, while concerns that Greece’s fiscal woes may spread pushes up borrowing costs. Regional lender CajaSur was seized this week after racking up more than 500 million euros of losses, while Banco Bilbao Vizcaya Argentaria SA, Spain’s second-largest bank, couldn’t renew about $1 billion of short-term loans, the Wall Street Journal said, citing unnamed people familiar with the matter.

A spokesman for BBVA, who asked not to be identified citing company policy, declined to comment.

Credit-default swaps on BBVA’s debt have more than doubled this year to 222.5 basis points, according to CMA DataVision prices. That means it costs 222,500 euros a year to protect against default on 10 million euros of borrowing for five years. The price fell 13.5 basis points today.

Credit-default swaps pay the buyer face value in exchange for the underlying securities or the cash equivalent should a borrower fail to adhere to its debt agreements.