4 July: ECB instructs Italian bank to meet non-performing loan requirements

July 4, 2016

Italian bank Monte dei Paschi di Siena has received a draft-letter from the ECB setting out instructions to reduce its exposure to bad loans. The Italian bank has been given until 8 July to present its arguments to Frankfurt.

Read the press release of Monte dei Paschi di Siena confirming the letter here.

On the different readings of presumed Italian government plans to provide aid to the bank, read the coverage by IlSole24Ore and the Financial Times.

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