Bpm, today meeting with Bank of Italy to postpone the recapitalization

The future of Banca Popolare di Milano could now be in the hands of Bankitalia, which should have the last word on the timing and methods of recapitalization. According to sources in Il Messaggero, the director general of the institute, Enzo Chiesa, will soon be received by the top management of Palazzo Koch to discuss the next steps. Via Nazionale is the supervisory authority which, after the last inspection, has forced Bpm to strengthen its assets. Today's meeting would follow a meeting between Chiesa and representatives of the guarantee consortium led by Mediobanca. Governor Mario Draghi had said he was waiting for the recapitalization in November. Now, however, the bankers in the consortium would like to reach an agreement with the Bank of Italy to further postpone the start of the recapitalization process.