Publisher
Financial News
Media Date
12-23-2016
Media Type
Document
Content Type
News Article
Country/Region
Italy
Language
English
Crisis
European Sovereign Debt Crisis (2008 - 2012)
Case Series
Ad hoc Capital Injection
Intervention
Ad hoc Capital Injection
Additional Information
Italy’s government has set up a backstop fund to shore up troubled banks, setting the stage for the rescue of troubled Italian lender Banca Monte dei Paschi di Siena. At a cabinet meeting in the early hours of December 23, the government of Prime Minister Paolo Gentiloni approved the creation of a €20 billion ($20.9 billion) fund to help troubled banks. Shortly afterward, Monte dei Paschi said it will apply to tap this fund for fresh equity to shore up its balance sheet.
Recommended Citation
Legorano, Giovanni, "Italy sets up fund to help troubled banks; Move to create €20 billion fund comes shortly after Monte dei Paschi says it failed to raise capital" (2016). Documents. 2803.
https://elischolar.library.yale.edu/ypfs-documents2/2803