Italy approves €1.5bn Banca Popolare di Bari bail-out

By Tyler Davies
16 Dec 2019

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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