UniCredit securitization frees up BTP book trapped in Fineco

Unicredit_Alamy_230x150_12Nov19
By Tom Brown
14 Nov 2019

UniCredit has structured a a €7.75bn SME securitization called Impresa Two, which will allow the bank to free up a large book of Italian government bonds it had pledged to former brokerage subsidiary FinecoBank.

FinecoBank and UniCredit formally separated in May this year, but remained entangled, thanks to previous intragroup arrangements yet to be detangled. Fineco, a brokerage, attracted plenty of deposits — some €25bn — and has not been able to deploy these in its mix of mortgages, person loans, and Lombard ...

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