Banca Carige was advised by the Bank of Italy to make changes in policy and personnel as it prepares for regulatory changes for next year.
Tags: Bank of Italy
Italian Banks Face a Bailout Following a Surmounting Bad Loans
Italy faces a €4.95 billion ($5.65 billion) bailout after bad loans in its banks accumulated to an alarming rate. The bank shares have lost close to half of its value in the last 12 months.
ECB's Visco says deflation fears eased but asset purchases must go on
The European Central Bank must continue its asset-purchasing program to ensure that euro area inflation returns to target levels, despite signs that deflation fears have eased, ECB governing council member Ignazio Visco said on Tuesday.
Pop Milano sits pretty as Italy cooperative banks brace for M&A
At least five investment banks are vying to win a mandate from Banca Popolare di Milano (BPM) (PMII.MI) and find it a partner as Italian cooperative lenders gear up for a wave of mergers following a landmark reform of the sector.
Italy economy minister eyes "bad bank" to clean up risky loans
Italy is considering setting up a state-backed "bad bank" to help clean up its banking sector, Economy Minister Pier Carlo Padoan said in a newspaper interview on Sunday.
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Visco of ECB stressed the importance of communication in an exit strategy. Ignazio Visco, a member of the European Central Bank Governing Council, stated that central banks needed to work on improving communication when it comes to exiting from an unprecedented monetary policy.
The current lack of a majority in the Italian government is seen as a precursor to further economic issues in the long run.
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