BMPS La Repubblica reports that BMPS could use “Gacs” for the planned sale of up to Euro 10 bn NPL’s that the ECB has asked BMPS to sell.
Reuters also reports (again) that Atlante will soon take on an additional role to buy bad loans from BMPS. Il Sole suggest that State CDP could contribute Euro 500 mn (to Atlante) with a similar amount coming from Sga, (the Bco di Napoli bad bank). Also suggested that insurance and pension funds could also contribute.
Il Corriere reports comments from Mr Baretta (Economy undersecretary) that a state intervention on BMPS should be considered only as a last resort.
POP MILANO / BCO POPOLARE La Repubblica reports that some short selling is taking place on Bco Popolare as some investors are betting on the merger deal not being successful.
GRUPPO MUTUIONLINE Il Sole reports in its letter to investors column that the company could like to launch the sale of investment funds via a new online platform (via partnerships with financial institutions). No guidance give for 2016 but they confirmed the positive trend.
BANKS Reuters reports that a EU court is likely to say this month that the European Commission cannot use state aid rules to impose losses on private investors in a bank bailout. Suggested that such a ruling would help Italy in its talks with the European authorities.
Il Sole reports that at today’s European finance ministers meeting its possible that the issue of Italian banks may be discussed (burden sharing etc).