Reports

24 تموز 2019, 11:20
Reuters Giulio Piovaccari
Italian banks consider conditions set by CCB

Italian depositor guarantee fund FITD, financed by the country’s lenders, does not consider acceptable some of the conditions set by cooperative bank Cassa Centrale Banca to join a rescue plan for ailing Carige (CRGI.MI), daily Il Sole 24 Ore said on Wednesday.

Cassa Centrale Banca (CCB) asked to reduce the size of its future investment in Carige and a timeline of four years to buy FITD shares in the Genoa-based lender at a high discount, according to the report.

Talks were still ongoing, as a CCB board meeting is scheduled on Wednesday, the report added.

FITD kicked off on Tuesday a 900 million euro ($1 billion) rescue process for Carige via the conversion of around 313 million euros of a bond into shares, ahead of a Thursday deadline set by the European Central Bank to find a solution for the troubled lender.