Mps, the decree that recognizes the public guarantee on the liquidity of the Sienese bank is ready and could be published by today, Thursday, in the Official Gazette. This was reported by Reuters, citing government sources.
According to reports from a government source, the agency says, the decree could end its administrative process within the day with the registration by the Court of Auditors and approval by the State General Accounting Office. Also on Thursday, a board meeting of the bank is scheduled.
Coming to the expected timetable, Siena should proceed with the issue of the first bond guaranteed by the state for 2 billion euros by January, while a second issue, also for 2 billion, should take place in February-March, according to sources close to us on Wednesday to the file.
Meanwhile, the European Commission has given the green light to Italy's plan to support access to liquidity of Banca Popolare di Vicenza and Veneto Banca with a public guarantee because it is "in line with the rules on state aid". A note from the Commission communicates it. The state intervention consists of a guarantee for the bonds that the two banks intend to issue. Banca Popolare di Vicenza and Veneto Banca will pay a fee to the State for the guarantee. Brussels assesses this measure as "targeted, proportionate and limited in time and purpose".
