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Retail investors to be protected in any bank salvage -Italy min
December 21, 2016 / 9:26 AM / a year ago

Retail investors to be protected in any bank salvage -Italy min

ROME (Reuters) - Retail investors will feel little or no pain if the Italian government has to intervene to prop up its struggling lenders, Economy Minister Pier Carlo Padoan said on Wednesday.

Italian Finance Minister Pier Carlo Padoan looks on before a confidence vote at the Senate in Rome, Italy December 14, 2016. REUTERS/Alessandro Bianchi

“The impact on savers, if a (government) intervention should take place, will be absolutely minimised or inexistent,” Padoan told parliament as he requested authorisation to borrow 20 billion euros ($21 billion) to underwrite the stability of its banks.

Many investors expect that the Treasury will have to bail-out Italy’s number three lender, Monte dei Paschi di Siena (BMPS.MI) as early as this week to prevent it from being wound down by European regulators.

Reporting by Giuseppe Fonte; Writing by Crispian Balmer

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