DEBORAHBALL
MILAN--The European Central Bank has told Monte dei Paschi di Siena that its capital shortfall is EUR8.8 billion ($9.19 billion), significantly raising the amount the Italian government will have to deploy to rescue the troubled lender.
In a statement Monday evening, Monte dei Paschi said that the ECB said the bank's capital shortfall is far higher than the EUR5 billion expected when the government organized a rescue last week of Italy's No. 3 lender.
The bank said that the central bank warned of a "rapid deterioration" over the last month of its liquidity position. Monte dei Paschi has seen large outflows of deposits as it struggled in recent months to raise capital to meet an end-of-year deadline set by the ECB to shore up its balance sheet.
Write to Deborah Ball at [email protected]
- Forums
- Commodities
- GOLD
- gold
gold, page-19408
-
- There are more pages in this discussion • 109,983 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
NEWS
Antler Copper Project hits major permitting milestone – air quality permit advances to final review
LU7
Discover the strong preliminary feasibility of the Bécancour Lithium Refinery, showcasing resilience in a low pricing environment and a strategic plan to capitalize on future price recoveries