BN 06/13 14:54 Italy Said to Weigh Public Backstop for Banks Before Stress Test
Italy Said to Weigh Public Backstop for Banks Before Stress Test
2014-06-13 14:56:29.821 GMT
By Andrew Frye and Lorenzo Totaro
June 13 (Bloomberg) -- The Italian government is
considering options for a public backstop to cover potential
shortfalls in bank capital ahead of European stress tests in
October, two people with knowledge of the plan said.
* Officials are considering multiple options, said the two
people who declined to be named because the review is
private.
* The government may set up a fully financed pool that would
be ready for use immediately or draw up the legal framework
without raising funds, said one of the people
* The government may also opt to do nothing, the person said
* Filippo Sensi, spokesman for Prime Minister Matteo Renzi,
didn’t return a call and a text message seeking comment
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To contact the reporters on this story:
Andrew Frye in Rome at +39-06-4520-6322 or
afrye@bloomberg.net;
Lorenzo Totaro in Rome at +39-06-45206326 or
ltotaro@bloomberg.net
To contact the editors responsible for this story:
Brian Swint at +44-20-7073-3444 or
bswint@bloomberg.net
2014-06-13 14:56:29.821 GMT
By Andrew Frye and Lorenzo Totaro
June 13 (Bloomberg) -- The Italian government is
considering options for a public backstop to cover potential
shortfalls in bank capital ahead of European stress tests in
October, two people with knowledge of the plan said.
* Officials are considering multiple options, said the two
people who declined to be named because the review is
private.
* The government may set up a fully financed pool that would
be ready for use immediately or draw up the legal framework
without raising funds, said one of the people
* The government may also opt to do nothing, the person said
* Filippo Sensi, spokesman for Prime Minister Matteo Renzi,
didn’t return a call and a text message seeking comment
Story Link:NSN N744306JIJUV<GO>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporters on this story:
Andrew Frye in Rome at +39-06-4520-6322 or
afrye@bloomberg.net;
Lorenzo Totaro in Rome at +39-06-45206326 or
ltotaro@bloomberg.net
To contact the editors responsible for this story:
Brian Swint at +44-20-7073-3444 or
bswint@bloomberg.net