Italy approves €1.5bn Banca Popolare di Bari bail-out
The Italian government will allow two public institutions to recapitalise the struggling lender Banca Popolare di Bari, giving them room to provide it with about €1.5bn.
The council of ministers said in a statement on Sunday that Banca del Mezzogiorno-Mediocredito Centrale (MCC), a state-owned bank, would be able to provide €900m of capital to rescue Bari from failure.The statement made it clear that Fondo Interbancario di Tutela dei Depositi (FITD), Italy’s deposit guarantee fund, ...
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