Carige is among the worst in the Piazza Affari list in a market that looks with apprehension at the press rumors relating to a derivative risk in the financial statements of the institution that emerged from theinspection by the Bank of Italy. The hypotheses of further sales within the subsidiaries with a view to strengthening capital do not serve to raise the prices since, according to analysts, they are difficult to achieve in this phase of the market.
At 13,15 pm Banca Carige lost 3,36% to 0,46 euro against a rise in the FTSE Mib of 0,66%. At 15 pm it lost 3,32%.
According to La Stampa, the Bank of Italy allegedly noted excessive exposure in its report to "leveraged" derivative contracts on government securities for an amount of approximately 7 billion euro and which would mainly have Deutsche Bank as counterparty. Against this exposure, Carige has collateral that at the end of June amounted to 1,1 billion euros, an excessive figure for a bank that has a market capitalization of just over one billion euros. Precisely because of the growth in collateral, the position with the German bank "has taken on the dimension of great risk", writes La Stampa, quoting the Supervisory report.
