ECB's Nouy says Monte
Paschi solvent as rescue expected
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[March 27, 2017]
FRANKFURT (Reuters) - Banca
Monte dei Paschi di Siena is solvent <BMPS.MI> and is in
the final stages of discussing its rescue plan with
European authorities, the European Central Bank's top
supervisor, Daniele Nouy, told Reuters on Monday.
Daniele Nouy, chair of the Supervisory Board of the
European Central Bank, attends the 2016 Institute of
International Finance (IIF) Spring Membership meeting in
Madrid, Spain May 24, 2016. REUTERS/Susana Vera
Monte Paschi said last week the ECB had completed an inspection
of its loans and this would be taken into account when assessing
its solvency, the key pre-condition for getting state-aid.
Asked whether the troubled Tuscan lender was still solvent,
nearly three months after it asked for a 'precautionary
recapitalization' by the Italian state, Nouy said:
"Yes, otherwise we wouldn’t be discussing about the
"We are at later stages of the discussion with the Commission."
Speaking at a press conference earlier, Nouy said she expected
the European Commission to make a decision on Monte Paschi soon.
(Reporting By Francesco Canepa)
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