Italy

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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

Monte dei Paschi Rescue To Cost Italian Government €6.5 Billion

The Italian government is likely to put in about €6.5 billion to rescue the country’s third-biggest lender Monte dei Paschi di Siena, more than initially expected, sources close to the matter said, the Irish Times reported. The Italian lender needs a ...

Daily Headline - global.abi.org - 12/27/2016 - 21:26 - 0 comments

Italy Paves Way for a $21 Billion Rescue Plan for Ailing Banks

The Italian government cleared the way for the potential rescue of lenders, including Banca Monte dei Paschi di Siena SpA, by seeking permission from parliament to increase the nation’s public debt by as much as 20 billion euros ($21 billion), Bloomberg ...

Daily Headline - global.abi.org - 12/19/2016 - 21:47 - 0 comments

Monte dei Paschi Set to Launch Share Sale

Banca Monte dei Paschi di Siena SpA will launch a share sale Monday in a last-ditch attempt by the troubled Italian lender to avert being nationalized, The Wall Street Journal reported. The bank needs to raise about €5 billion ($5.23 billion) in fres ...

Daily Headline - global.abi.org - 12/18/2016 - 16:31 - 0 comments

Paschi Says ECB Rejected Fundraising Delay on Liquidity Concern

Banca Monte dei Paschi di Siena SpA said the European Central Bank rejected its request to extend a capital increase into January over concerns that the Italian lender’s liquidity and capital ratios may deteriorate, posing a risk to its survival, Bloombe ...

Daily Headline - global.abi.org - 12/14/2016 - 22:41 - 0 comments

Monte Paschi Proceeds With Capital Plan to Avoid State Rescue

Banca Monte dei Paschi di Siena SpA will step up efforts to win investors for a debt-for-equity swap over coming days, pressing ahead with a 5 billion euro ($5.3 billion) capital raise to avoid a state rescue that would impose losses on bondholders and s ...

Daily Headline - global.abi.org - 12/11/2016 - 22:17 - 0 comments

Deutsche Bank May Have Rigged Index in Paschi Deal, Audit Shows

Deutsche Bank AG employees may have manipulated internal indexes as part of an allegedly fraudulent scheme to help Banca Monte dei Paschi di Siena SpA conceal losses, according to an audit commissioned by German regulators. The study, requested by watchd ...

Daily Headline - global.abi.org - 12/08/2016 - 22:11 - 0 comments

Italy Demands More Time From ECB To Rescue Monte dei Paschi

Italy is demanding the European Central Bank give it more time to rescue Monte dei Paschi di Siena and is preparing to blame the bank for losses imposed on bondholders if Rome is forced into an urgent state bailout, the Financial Times reported. The ...

Daily Headline - global.abi.org - 12/07/2016 - 19:59 - 0 comments

Italian Calm Seen Fleeting as Investors Fret on Election and ECB

A rapid recovery in the euro and Italian bonds in the wake of the nation’s failed referendum hasn’t convinced investors that they are immune to political risks, Bloomberg News reported. Parity between the euro and dollar and a near-doubling of the yield ...

Daily Headline - global.abi.org - 12/07/2016 - 20:01 - 0 comments

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