December 2, 2019 / 4:15 PM / 6 days ago

Italy PM says determined to avoid any change in status of sovereign bonds

ROME, Dec 2 (Reuters) - Prime Minister Giuseppe Conte said on Monday Italy was determined to avoid any change to the treatment of banks’ holdings of sovereign bonds under European banking union.

Italy is resisting proposals aired in some northern European countries that government bonds should be risk-weighted according to the credit rating of the countries involved.

“A change to the prudential treatment of sovereign bonds ... is a strongly negative prospect which the Italian government will oppose with the utmost determination,” Conte told the upper house Senate.

Reporting by Giuseppe Fonte, writing by Gavin Jones

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