Italy asks ECB for more time to save troubled BMPS: Report

The board of the embattled lender Banca Monte dei Paschi has asked the European Central Bank for more time to move ahead with a 5 billion euro ($5.4 billion) recapitalization process, according to the Financial Times. The report on Thursday, citing four people close to the process, said that the board wants to postpone improving … Read more Italy asks ECB for more time to save troubled BMPS: Report

Italian banks hold nearly a third of euro zone’s bad loans: ECB

Italian banks are holding nearly a third of the 990 billion euros ($1.05 trillion) of unpaid loans at top euro zone lenders, European Central Bank data showed on Tuesday, underscoring the challenge facing Italy at a time of political and market upheaval. High levels of bad loans, a legacy of the financial crisis, are curbing … Read more Italian banks hold nearly a third of euro zone’s bad loans: ECB