Italy

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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

Italian Bank Shares Strengthen On ECB Decision

Italian banking shares strengthened on Tuesday on expectation that the European Central Bank will extend its quantitative easing programme when its governing council meets on Thursday in Frankfurt, the Irish Times reported. Amid reports that Italy’s ...

Daily Headline - global.abi.org - 12/06/2016 - 22:54 - 0 comments

Bankers Rush To Rescue Monte Dei Paschi After Italian Vote

Bankers were scrambling on Monday to secure a €5 billion recapitalisation of Monte dei Paschi di Siena (MPS), the world’s oldest lender, after prime minister Matteo Renzi’s decisive loss in Italy’s referendum on constitutional reform added more uncertain ...

Daily Headline - global.abi.org - 12/05/2016 - 22:22 - 0 comments

4 Bank Challenges for Italy’s Next Prime Minister

Cleaning up Italy’s banks is an opportunity ripe for the wasting, the International New York Times DealBook blog reported. The failed referendum on Sunday need not cause a crisis if UniCredit completes its rights issue and fellow lender Banca Monte d ...

Daily Headline - global.abi.org - 12/05/2016 - 22:22 - 0 comments

Bari To Sell Risky NPL Bonds Without Atlante Support

Banca Popolare di Bari is poised to sell the riskier bonds in its landmark bad loan securitisation without the help of Italy's rescue fund, having turned to a US hedge fund instead, according to people familiar with the situation, Reuters reported. ...

Daily Headline - global.abi.org - 11/29/2016 - 21:48 - 0 comments

Doubts Linger As BMPS Kicks Off Recapitalisation

Banca Monte dei Paschi di Siena may have got the green light for an ambitious recapitalisation, but the bank is yet to convince investors to buy into the complex plan needed to keep the troubled lender afloat, Reuters reported. Shareholders in Italy' ...

Daily Headline - global.abi.org - 11/28/2016 - 22:34 - 0 comments

Fears Of Multiple Bank Failures If Renzi Loses Referendum

Up to eight of Italy’s troubled banks risk failing if prime minister Matteo Renzi loses a constitutional referendum next weekend and ensuing market turbulence deters investors from recapitalising them, officials and senior bankers say, the Irish Times ...

Daily Headline - global.abi.org - 11/27/2016 - 18:06 - 0 comments

BMPS Debt Tender Wins Over Hedge Funds But Still Faces Risks

Hedge funds investors holding some of Banca Monte dei Paschi di Siena's riskiest bonds said they would take part in the bank's proposed tender but the trade is still riddled with execution risk with Tier 2 holders' participation in the bal ...

Daily Headline - global.abi.org - 11/15/2016 - 21:33 - 0 comments

Monte dei Paschi Debt Swap Targets Bonds For Up To 5.3 Billion Euros

Ailing Italian lender Monte dei Paschi di Sienaon Monday announced the terms of a planned debt-to-equity conversion, a key plank of a rescue scheme aimed at averting the bank being wound down, Reuters reported. The bank said the voluntary debt swap offer ...

Daily Headline - global.abi.org - 11/14/2016 - 21:02 - 0 comments

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