Italy says private capital will meet Monte Paschi, Carige needs
Reuters
Published Oct 31, 2014 07:26AM ET
Italy says private capital will meet Monte Paschi, Carige needs
ROME (Reuters) - Banca Monte dei Paschi di Siena (MI:BMPS) and Carige
"The remaining capital needs of our banking system will be filled through the mobilization of private resources," Padoan said in a speech at a conference in Rome.
He made no comment on the status of repayments of existing state aid offered to Monte dei Paschi in a previous bailout. But the comments dampen prospects of outright new state aid being offered to the two banks, which were among the biggest losers in the European Central Bank's health check of the sector.
Monte dei Paschi was left with a shortfall of 2.1 billion euros, while Carige had a gap of 814 million euros.
Padoan said the tests had shown the resilience of the banking system overall. Italy's public finance credibility had been reinforced by the government's recent budget plans for 2015 which had been well received on financial markets.
(Reporting by Alessandra Galloni and James Mackenzie)
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