Reuters logo
ECB estimates Italy's Veneto banks need 6.4 bln euros-sources
April 4, 2017 / 4:31 PM / in 7 months

ECB estimates Italy's Veneto banks need 6.4 bln euros-sources

FRANKFURT/ROME, April 4 (Reuters) - The European Central Bank estimates that Banca Popolare di Vicenza and Veneto Banca need 6.4 billion euros ($6.82 billion) to bolster their capital, two sources close to the matter said on Tuesday.

One of the sources said the ECB considers the lenders solvent, a key condition for them to receive the state bailout they have requested.

The two banks have applied for a so-called precautionary recapitalisation by the state, using an exception to EU banking liquidation rules that would allow public money to be injected in the two lenders with a limited contribution from the banks’ creditors.

The European Commission must now decide whether the two bank’s request for public support is in line with EU state aid rules and approve their restructuring plan for the funds to be unlocked. On Monday, a spokesman for the Commission said it was confident that a solution could be found in the coming weeks. ($1 = 0.9381 euros) (Reporting by Francesco Canepa and Stefano Bernabei, writing by Silvia Aloisi)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below