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7 months ago
ECB tells Monte dei Paschi to raise 8.8 bln euros - sources
December 26, 2016 / 7:48 PM / 7 months ago

ECB tells Monte dei Paschi to raise 8.8 bln euros - sources

1 Min Read

MILAN, Dec 26 (Reuters) - The European Central Bank has told Banca Monte dei Paschi di Siena it needs to plug a capital shortfall of 8.8 billion euros ($9.2 billion) higher than a previous 5 billion euro gap estimated by the bank, two sources close to the matter said on Monday.

Last Friday the Italian government approved a decree to bail out Monte dei Paschi after Italy's No. 3 lender failed to win investor backing for a desperately needed 5 billion euro capital increase. ($1 = 0.9566 euros) (Reporting by Silvia Aloisi, writing by Stephen Jewkes)

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