Italy gives Carige liquidity support, opens path to recap

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By Jasper Cox
08 Jan 2019

The Italian government has agreed to provide a guarantee for Banca Carige’s bonds, giving it a chance to shore up its liquidity position. The state has also put the option of a precautionary recapitalisation on the table.

The measures were approved at a meeting at 9:33pm Italian time on Monday, chaired by prime minister Giuseppe Conte, and announced shortly afterwards.

Carige said on Tuesday that its administrators are in the process of applying for the state guarantee, but that the precautionary recapitalisation would only be ...

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