Mercoledì, 17 Ottobre 2018
ROME

Bank of Italy says troubled MPS won't fall into receivership

English
© ANSA

Rome, January 28 - The head of Italy's central bank
says that the troubled Monte dei Paschi di Siena is not facing
the possibility of receivership, sources said Monday.
Ignazio Visco, governor of the Bank of Italy, has denied
the need for "immediate action" concerning the bank, despite its
massive financial troubles, according to sources.
Last week, news broke that lossmaking derivatives trades by
MPS, the world's oldest bank, could cost it as much as 720
million euros.
The European Commission recently gave provisional backing
to a 3.9-billion-euro Italian government bailout for the bank
"to preserve the stability of the Italian financial system".
Meanwhile, authorities confirmed Monday that the bank faces
at least two tax audits.
One relates to the 142-million-euro sale of Rome's Palazzo
dei Normanni and the second, to a capital gain of 120 million
euros from the sale of equities in another Italian financial
group, Unipol Assicurazioni.

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