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Monte dei Paschi asks ECB to extend rescue deal deadline to Jan 20 - source
December 7, 2016 / 7:41 PM / 10 months ago

Monte dei Paschi asks ECB to extend rescue deal deadline to Jan 20 - source

MILAN, Dec 7 (Reuters) - Banca Monte dei Paschi di Siena has asked the European Central Bank (ECB) to extend a deadline for completing its rescue plan to January 20, a source familiar with the matter said on Wednesday.

The extension has been requested because of political uncertainty triggered by the resignation of Prime Minister Matteo Renzi after defeat in a referendum on Sunday, the source added.

A second source said the ECB’s supervisory board would be meeting on Thursday and would discuss, among other things, the situation at Monte dei Paschi.

The troubled Tuscan lender has put off a decision on whether to go ahead with a planned 5 billion euro capital increase so that investors can first have greater clarity on Italy’s next government.

Reporting by Silvia Aloisi, additional reporting by Francesco Canepa; writing by Stephen Jewkes

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