Italy

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Italian Banks Struggle to Break Free From Soured Debt Cycle

Italian banks are stuck in what stressed-debt experts call purgatory, still forced to pay a heavy price for their past sins despite loan data that suggests they are turning a corner. The rate at which loans are souring hit an eight-year low last year, bu ...

Daily Headline - global.abi.org - 02/22/2017 - 21:49 - 0 comments

Stefanel to Ask for Extension to File Debt Restructuring Deal-Sources

Struggling Italian clothing company Stefanel will ask a court for more time to submit a debt restructuring agreement with its creditors, two sources close to the situation said on Tuesday. In November, the court in Treviso, northern Italy, granted Stefan ...

Daily Headline - global.abi.org - 02/21/2017 - 22:17 - 0 comments

Italian Banks Struggle to Break Free From Soured Debt Cycle

Italian banks are stuck in what stressed-debt experts call purgatory, still forced to pay a heavy price for their past sins despite loan data that suggests they are turning a corner. The rate at which loans are souring hit an eight-year low last year, bu ...

Daily Headline - global.abi.org - 02/22/2017 - 21:47 - 0 comments

Italy Considers €5 Billion State Bailout of Regional Banks

Italy is looking at a €5bn state rescue of two struggling regional banks as the eurozone’s third-largest economy takes renewed steps to shore up its troubled banking system, the Financial Times reported. The rescues of Veneto Banca and Banca Popolare ...

Daily Headline - global.abi.org - 02/14/2017 - 20:19 - 0 comments

Italian Industry Enjoys Best Year Since Eurozone Crisis

A welcome dose of good news for the Italian economy. Annual industrial production in the eurozone’s third largest economy accelerated at its best pace since 2010, raising hopes of an uptick in economic growth for a country beset by a host of political an ...

Daily Headline - global.abi.org - 02/12/2017 - 21:37 - 0 comments

The World’s Oldest Bank Is Stuck With Beautiful Tuscan Villas It Can’t Sell

The abandoned farmhouse surrounded by acres of prime Tuscan vineyards, known as the Aquilaia estate, stands as a monument to failure—to the tens of billions of euros in bad loans that sank the world’s oldest bank, Bloomberg News reported. Born at about t ...

Daily Headline - global.abi.org - 02/09/2017 - 22:32 - 0 comments

Italian Banks Get Smarter on Real Estate

Italian banks are speeding up the sale of distressed loans backed by real estate, in an effort to mend balance sheets weakened by enormous piles of debt, The Wall Street Journal reported. But the banks still have a long way to go. For many loans, the ...

Daily Headline - global.abi.org - 01/31/2017 - 21:58 - 0 comments

Italy Presents The European Union’s New Bank-Rescue Rules With Their First Big Test

Another blow to national pride: on January 13th DBRS, a Canadian rating agency, downgraded Italy’s sovereign debt, stripping the country of its last A rating. Government bond-yields rose; so will the cost of funding for Italian banks. Erik Nielsen, chief ...

Daily Headline - global.abi.org - 01/19/2017 - 21:58 - 0 comments

Italy to Meet Alitalia Executives With 1,600 Jobs on the Line

As the new Italian government of Paolo Gentiloni hammers away at a rescue plan for beleaguered lender Banca Monte dei Paschi di Siena SpA, it’s suddenly contending with another corporate crisis: the future of Alitalia SpA, Bloomberg News reported. Execut ...

Daily Headline - global.abi.org - 01/08/2017 - 22:30 - 0 comments

SR - Italy - New Provisions for Banks In Difficulties

On 3 May 2016,the Decree Law no. 59/2016 containing “Urgent measures on enforcement and bankruptcy proceedings, in favour of investors in banks in liquidation” was published in the Official Gazette. Attachment Size sr_-_ ...

Resource Article - twallace@abiwor... - 12/29/2016 - 13:20 - 0 comments - 1 attachment

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