Monte Paschi Bailout Faces ECB Pushback
Monte Paschi Bailout Faces ECB Pushback

Monte Paschi Bailout Faces ECB Pushback

Monte Paschi Bailout Faces ECB Pushback

Italy's plan for an €8.8 billion ($9.8 billion) bailout of Banca Monte dei Paschi di Siena SpA faces resistance from the European Central Bank, which is concerned the lender may struggle to maintain capital buffers as it tries to get back on its feet, according to people with knowledge of the matter, Yahoo reported. The ECB's oversight arm has signaled that the current rescue plan doesn't do enough to ensure that Monte Paschi will comfortably meet supervisory capital requirements in the next few years, as the bank offloads about €30 billion of bad loans through a securitization, the people said, asking not to be identified because the rescue talks are private. Five months after Monte Paschi requested help, the Italian government, the ECB, the European Commission and the bank have yet to reach a final agreement on how the bank should be restructured as part of the bailout or how much capital it will need to return to viability.

Short URL : https://goo.gl/wdgs9o
  1. https://goo.gl/0gg69I
  • https://goo.gl/mxRKFS
  • https://goo.gl/61qXWo
  • https://goo.gl/OoivIy
  • https://goo.gl/lm54c2

You can also read ...

Debt to GDP ratios across the OECD averaged 73% last year and its members are set to borrow $14.67 trillion from the markets this year.
The world economy is at risk from a rising tide of government...
US has accused ABLV of money laundering and breaching  sanctions on North Korea.
The European Central Bank said Saturday it has determined that...
S&P Ups Russia to Investment Grade
Russia received a long-awaited upgrade to its sovereign rating...
China’s Geely Buys $9 Billion Daimler Stake
The founder of Zhejiang Geely Holding Group Co. has...
Mexico Hosts 39 Million Tourists, Earns $21 Billion
Mexico saw record revenues from international tourism in 2017...
PNB fraud of $1.8 billion is considered as the biggest bank fraud of its kind in Asia’s third-largest economy.
On the morning of February 16, India’s second-largest state-...
Thorny issues such as content rules for  cars remain unsolved.
It’s looking increasingly likely Nafta talks will extend...
Manafort Indictment Spells Trouble for Bankers
Recently filed federal charges against President Donald Trump’...

Add new comment

Read our comment policy before posting your viewpoints