BANKS Reuters reports that properly regulated and controlled state support for banks in the euro zone can be justified, though such intervention needs to be used sparingly, European Central Bank supervisor Ignazio Angeloni said on Monday.
Italian Prime Minister Matteo Renzi criticised European Central Bank Governor Mario Draghi for not having done more to resolve Italy's banking woes when he held a key Treasury job in Rome in the 1990s.
Il Sole reports that the government is working on a plan to provide the Atlante fund with further resources dedicated to buying NPL’s and the state CDP, insurance companies could be involved.
BMPS La Stampa reports that Italy plans about 3 bil € of support for Bmps, the article suggest that Government is considering plans for a convertible bonds issue.
Il Corriere reports that the Gov is discussing with Brussels the mechanism used by Greece to give 4 banks state aid. Instead of the cancellation of or reduction of the nominal value of bonds, for the owners od subordinated bonds there is the idea / proposal of transforming them into shares and that this is a hypothesis being considered for BMPS.
INTESA SP Il Sole reports comments from the Chairman of the banking foundation Compagnia San Paolo (one of the main shareholders of ISP with 9.3%) that the foundation has no obligation to sell (part) of its stake in ISP and does not intend to do so (under current mkt conditions).