Ten years after the bankruptcy of Lehman Brothers one wonders whether the fateful decision of September 15 could not have been avoided but the lesson has not been fully learned - The excessive exposure of banks to finance does not…
The Director General of the Bank of Italy, Salvatore Rossi, speaking at a conference in Modena on the Banking Union invites the European Supervisory Authority to adopt more constructive attitudes, especially in the treatment of non-performing loans and banking crises - Unresolved issue between banks…
ASSONIME REPORT - The precautionary recapitalization was applied only three times, of which two in Greece and one in Italy - The real bail-in was instead activated in four countries, albeit in different forms…
The Economy Minister at the Luiss Italian Banking Conference 2017: "The Italian financial system is at a turning point but the road remains long" - In Italy "the bail in has never been used: savers and employment have been protected " -…
Save account holders, debtors and senior bond holders, shareholders and junior bond holders at risk - Here's what could happen with the orderly liquidation of Veneto Banca and Popolare di Vicenza.
USA, shooting: a Republican deputy injured - The dollar falls and zeroes the stock market gains - Rossi (Bank of Italy): "Italy pays the highest price of the bail in" - Pop Vicenza and Veneto Banca: no bail-in and recapitalization nearest…
Speaking at the Almo Collegio Borromeo in Pavia, the general manager of the Bank of Italy argued that Italy is paying a very high price for the bail-in rules on which the central bank had raised technical objections at the time -…
Two binding declarations by Minister Padoan and the European Commission ("No bail-ins and guarantees for depositors and senior bonds") restore confidence in Popolare di Vicenza and Veneto Banca, which today meets the board of directors and must decide whether to repay or…
Board of directors under high tension today for Banca Popolare di Vicenza while the repayment deadline for the 150 million subordinated bond approaches for Veneto Banca - After the openings of Intesa and Unicredit, the other institutions are niche -…
This is an alternative envisaged by European provisions which would save ordinary bonds and deposits over 100 thousand euros - Subordinated bonds would instead be cancelled, but the Italian government could reimburse their holders as will happen for MPS creditors...
In the Italian banking world, the belief is growing that Brussels is looking for a sacrificial victim of the bail-in and that Veneto Banca is the main suspect - The countdown has already begun: either an agreement is reached between the EU and…
This is foreseen by an amendment to the maneuver-bis approved by the Commission. The exclusion of social security funds from the bail-in is one of the main points of the text that will arrive in the Chamber of Deputies for the general discussion. The autonomous social security funds are not included in the exclusion but…
The default of the Veneto banks would have effects that go far beyond the banks of Vicenza and Montebelluna and would have repercussions on the entire Italian financial system, putting around 80 billion euros at risk - But to avoid the bail-in…
The board of directors of the Venetian bank has confirmed its restructuring plan and has entrusted the mediation of the Minister of Economy with Brussels to unblock the recapitalization essential for the rescue - The Veneto council is still in progress…
The default risk of Popolare Vicenza and Veneto Banca brings bank stocks to their knees and pushes Piazza Affari downwards (-0,37%) on the Chinese thud of Ferragamo - Italgas, Cnh, Stm and Enel go against the trend…
The minister throws water on the fire: "There is no liquidity problem. We need continuous monitoring of the situation and we hope to arrive at a consolidated solution in the short term" - Boards of directors of the two institutions convened for tomorrow
No progress for the bailout plan - At this point, the risk of bail-in becomes increasingly imminent if the Government does not intervene to rescue and if private capital is not found- We will talk about it today at…
Tomorrow, Wednesday, crucial face-to-face between top management, the Treasury and the EU Antitrust - Brussels wants another billion from private investors to cover the losses on devaluations, but finding many resources is not easy and the proposed resolution…
In the annual meeting with the market, the president of Consob, Giuseppe Vegas, points out that Italy must prepare for monetary tightening but that Italexit would jeopardize the stability of the financial system - Showers of complaints and appeals from savers to Consob,…
FROM THE ADVISE ONLY BLOG - Two of the most troubled banks in the Veneto region are fighting against time to convince small shareholders to accept the proposal to recover from losses. Otherwise, no state intervention and risk of bail-in.…
The German government asked and obtained from the European Commission to exercise the entire public guarantee requested in 2013, before the approval of the EU bail-in directive. However, it continues to inject public money into banks, almost 50% of German institutions…
FROM THE ADVISE ONLY BLOG - Banca Mps is asking small savers for help by launching a voluntary conversion offer into shares of subordinated bonds for 4,2 billion euro. Is it a convenient operation oo? What subordinated bondholders can do…
The advisors JP Morgan and Mediobanca have warned that they will not join the consortium guaranteeing the Monte dei Paschi capital increase if the three key operations of the recapitalization are not successful: the conversion of bonds into…
"Subordinated bonds and bail-ins: risk or investment opportunity" is the theme of the third Financial Aperitif organized by Banca del Fucino on Thursday 10 November at 18 pm, by the Private Banking Division of Banca del Fucino in Milan at its headquarters in …
The process of adapting Italian law to EU regulations is inevitable, but an effective evaluation of EU regulations with respect to the founding principles on which our country's legal system has been modeled is all the more necessary.
European markets weak, Milan down by half a point but above the lows for the day - Banks hit by the EU Court ruling on the bail in - Fiat Chrysler pays the US investigation, MPS the tensions on bad loans - Saipem…
The sentence comes after the appeal of the Slovenian Constitutional Court linked to the rescue of five banks which took place in 2013 which led to the cancellation of the share capital of the shareholders and of the subordinated securities.
The Italian government is negotiating with Brussels to obtain a derogation (provided for by the rules) from the bail in - But how much are the savings and investments of Italians theoretically subject to the new internal resolution procedure? Here is a scheme -…
The rules on the bail-in must be respected by everyone, including Italy, and the EU has no intention of retracing its steps - The president of the Eurogroup intervenes in the debate on Italian banks and credit titles slow down on Piazza…
Chancellor Merkel claims that the rules on banks cannot be changed every two years but in reality Renzi is not asking to change the rules but simply to apply all the bail-in safeguard clauses should risks arise…
Derogation from the ban on public aid to banks and temporary suspension of the bail-in: these are the two main hypotheses on which the Government is discussing with the European Union to reassure banks and financial markets
SPECIAL REPORT CEPS - The European rules of burden sharing and bail-in are correct but must be used with caution to avoid destabilizing banks and markets - This is why, against the specter of financial instability, the…
Savings potentially at risk are those held by households in deposits of over €100 but also in bank, senior unsecured and subordinated bonds.
The bail-in increases the potential costs to taxpayers compared to traditional bank bailouts. Limiting the purchase of government bonds by banks would drive up the cost of credit and widen the gaps in the EU. The solution to the question…
Parliament approved 4 motions, including that of the Democratic Party, which ask to review the bail-in rules for banks in crisis before May 2018 - The motions also ask to be able to use the resources of the fund…
The new European regulation on the management of banking crises centered on bail-in is an attack on common sense that creates bewilderment and does not comfort even thinking that the banks will pay the price for their "wrongdoings" - Thus we risk…
The wrong retroactive effect of the bail-in has created a systemic risk that has its center in the banks and is destabilizing the markets - European governments should announce a public guarantee of bank liabilities and the European Commission should…
"Banking and savings: what changes with the bail-in" is the theme of the public meeting promoted for Saturday 13 February by the Bcc of Castagneto Carducci in Livorno (Chamber of Commerce, Sala Auditorium, 10 am) - Speakers Alfredo Macchiati of Luiss and Lorenzo Gai…
The scholars of the Academy invite financial operators and information managers to use the more understandable expression "internal rescue" - Other advice concerns the translation of "hot spots", "voluntary disclosure" and "smart working".
The minister in the Senate: "We are registering an increase in instability rather than the opposite", therefore "a transitional phase is needed".
According to Gian Paolo Bazzani, CEO of Saxo Bank Italia, "the market was not frightened by the bail-in. After all, it has simply gone from the bail-out, except for badly managed banks with state money, to the bail- in, where I save the…
The number one of the Eurotower then confirmed that in March the European Central Bank could launch new expansionary measures, also because the downside risks for the economic recovery of the Eurozone have increased since the beginning of the year.
After Governor Ignazio Visco's declarations on the need to revise the European bail-in directive by exploiting the review clause, Brussels clarifies that there is no planned change to the rules approved in 2014, thanks also to the votes of…
FROM THE ADVISE ONLY BLOG - The Tuscan bank has lost more than a third of its value since the beginning of 2016, which has even halved since last October: here are the reasons for Caporetto and the consequences for…
