Long outburst of the prosecutor regent of Treviso during a hearing before the commission of inquiry into banks. The ex ad Consoli, the only defendant in the trial on the bankruptcy of Veneto Banca "will not serve even one day in prison" - "Consoli was a…
The civil court of Treviso ruled that the Veneto bank was unable to pay its creditors even before the government decided on compulsory administrative liquidation on 25 June 2017 - Now the former managers and…
The completion of the sale will allow Sga to take over the management of the credit portfolio.
The provision refers to two of the charges of obstructing the supervisory activity challenged by the prosecutor's office in the request for indictment.
In the parliamentary commission of inquiry into the banking crises, a rebound of responsibility was staged between Via Nazionale and Consob on the management of the crisis of the Veneto banks - At the center of the dispute over the share price before the increases in…
The American confrontation between Barbagallo and Apponi is not needed: the differences between Bank of Italy and Consob on the Veneto banks are now clear but the aftermath of the clash between the two Authorities remain - The parliamentary inquiry commission is convened again for…
The head of Via Nazionale's Supervision, replying to Consob's accusations, explained to the Parliamentary Commission of Inquiry that the Bank of Italy had no obligation to communicate the results of the inspections on the procedures for defining the share price.
The director general of Consob, in a joint hearing with the head of Supervision of the Bank of Italy before the parliamentary commission on banking crises, also affirms the Commission received from Via Nazionale in 2013 incomplete information to evaluate the price…
Interview with GIOVANNI SCHIAVON, former president of the Court of Treviso and founder of the Veneto Banca Shareholders' Association - "There are many doubts about the statements of the head of Supervision of the Bank of Italy but the most important point concerns the function of the Bank…
The share of the private bank which remained in the hands of Montebelluna after the transfer to Intesa Sanpaolo is stuck in the volatility auction, marking a theoretical drop of -37,56% to 0,61 euro.
The operation is worth 24 million euros and concerns 71,41% of the capital - A capital strengthening of 121 million euros is on the way.
From the most recent events to those that occurred previously, following a chronological path that will reach the four banks placed in resolution by the Government in November 2015, namely Banca Etruria, Banca Marche, Carichieti and Carife, three of…
After the crisis of Banca Popolare di Vicenza and Veneto Banca, the region's credit is now effectively in the hands of the 4 major national institutions, while the CCBs are increasingly weak - The perverse interweaving between industry…
Speaking at the CL meeting in Rimini, the head of Intesa Sanpaolo's Banca dei Territori, Stefano Barrese, explained the reasons for bailing out Popolare di Vicenza and Veneto Banca: "We protected 50 billion in savings, 2 million…
In no other region of Italy has there been such a high number of instability as in the Veneto - The continuous run-up between credit risks and capital levels had its roots in the economic crisis of the Northeast and in the end the…
The bondholders of the two Venetian banks acquired by Intesa Sanpaolo will be reimbursed in full if they purchased bonds before 12 June 2014 and held them at the time of liquidation - This is foreseen by the regulation of the Interbank Fund for the protection…
The Senate approved with 148 yes, 91 mo and no abstentions the measure on which the government had asked for confidence - The path towards compulsory liquidation begins - Zeroing of shares and subordinated bonds, compensation envisaged for…
Ok from the Finance Commission to the decree, tomorrow the vote in the Senate - Preliminary investigations into Pop Vicenza closed, former president Zonin among the suspects - Government commitment to harshly sanction managers who commit crimes and…
The agreement provides for 4 voluntary early retirements in the former Veneto Banca and Banca Popolare di Vicenza, of which at least 31 by 2017 December XNUMX. The first exit window is set for XNUMX October this year. Save the treatments…
Meanwhile, the unions and Intesa Sanpaolo have reached an agreement on the redundancies from Popolare di Vicenza and Veneto Banca.
The time needed to reach the final vote is lengthening, which could be postponed to tomorrow afternoon, July 13 or Friday - Subsequently, the decree, expiring on August 24, will be examined by the Senate. - Messina: "The only…
ABI ASSEMBLY - The Economy Minister is cautious on the hypothesis of a tax cut: "We need to evaluate carefully, not everyone has the same effects on growth and employment" - "Mps and Veneto banks bailouts in compliance with EU rules" - " Reduce…
We publish the complete text of the speech by the honorable Giampaolo Galli (Pd) in the Chamber on the decree on Veneto banks, which explains why the bailout is not aimed at saving bankers but the community (families, businesses, employees and savers) which wheel…
The Authority does not intend to launch an investigation, considering the "proven lack of interest in the acquisition of the business branches in question by other market operators"
The latest budget law has allocated 648 million euros to facilitate 25 outgoings over five years, but the institutions must add 5 billion to these resources - Veneto Banca and Pop Vicenza will close 612 branches out of 900, while Mps…
The government withdraws the amendment to the decree because it risked inadmissibility. The work in the House Finance Committee continues
But after the solutions found for the Veneto banks and for Mps, the minister launches an appeal to the other institutions: "They must begin to accelerate credit to the economy and get rid of the non-performing loans on their balance sheets more quickly than in the past"
The process of converting the decree law for the rescue of the Veneto banks is underway in the Chamber. But new sources are also opening up in the Democratic Party. Government ready to trust
Stock markets, final in the red: the Nasdaq and the super-euro weigh in - Migrants, Juncker: Italy is heroic. And Gentiloni... - Ultra-wide band, the clash with Tim widens. Gallia (Cdp): on Metroweb falsehood - Competition bill: approved by the Chamber, the news…
The vice-president of the EU Commission, Valdis Dombrovskis reiterates that the state aid used for the Veneto banks will be considered as a one-off charge - Padoan defends the orderly liquidation: "The burden pales in comparison with the hundreds of billions used by…
The scenario of the Ministry of Economy is contained in the technical report to the decree law passed on June 25th - The surplus would be possible with recoveries between impaired loans and equity investments.
After the intervention of Intesa and the new plan for the Veneto banks, Atlante 2 will no longer have to disburse the previously agreed 450 million - Money that will now be able to go to Monte dei Paschi, helping to reduce the amount of NPLs present in…
The Council of Ministers has approved the decree which allows Intesa Sanpaolo to immediately take over the sound assets of the Veneto banks without going through the bail-in and separating the NPLs which will be grouped into a bad bank paid by the…
Before the transfer to Intesa Sanpaolo, the Montebelluna bank extended the terms for members in difficulty to join the support funds to the end of September
Crucial hours for the completion of the operation Intesa on Pop Vicenza and Veneto Banca: Padoan prepares three measures (on the compulsory administrative liquidation, on the appointment of commissioners and on the use of the public 20 billion for the banks) - Storm on Carige and Ubi…
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.
After the willingness expressed by the bank led by Messina to take over the two Veneto banks, the problems related to the completion of the operation (from NPLs to redundancies) remain to be resolved, starting with the decree which must give legal form to state intervention for…
The board of directors unanimously approved the willingness to partially acquire Pop.Vicenza and Veneto Banca on condition that the operation is totally neutral with respect to the Common Equity Tier 1 ratio and the Intesa Sanpaolo Group's dividend policy - Non-performing loans…
European lists are slowing down under the pressure of oil prices, also influenced by the dynastic choices of the Saudi sovereign - Milan is better than the other markets - There is growing expectation for the offers that must reach advisor Rothschild on Pop Vicenza by today…
Consip, the Government emerges unscathed - Pop Vicenza and Veneto Banca: no merger, but bad banks - Oil is sinking all stock exchanges: only luxury is saved - Goodbye Carla Fendi, icon of Made in Italy - Cigarette prices…
The Treasury is changing the paradigm for the rescue of the two Veneto banks on the model of the four Good banks previously in resolution - Go for a bad bank with all the NPLs and consequent reduction of the capital increase: but it's necessary…
London's talks with Brussels begin today for the United Kingdom's exit from the European Union - China pushes the Asian stock exchanges but the markets keep an eye on the Internet giants for the risk of a financial bubble on the Nasdaq -…
The Rothschild investment bank was mandated by the two Venetian banks to sell at auction everything possible to reduce capital requirements: among the assets for sale, the joint stake in Arca Sgr, the Bim, the branches…
Stock market, final sprint: the car is racing, the banks are holding back - Kohl, father of united Germany, dies - Veneto Banca, latest: suspension of bond repayment in sight - Transport strike June 16: Italy blocked - Donnarumma-Milan, it's breaking: Juventus, Real and…
Government decree to induce the bank of Montebelluna to temporarily suspend the 150 million euro repayment of the subordinated bond to be paid on the 21st: the intervention is preparatory to the system solution, under negotiation, for the bailout…
In the middle of the day, European price lists are feeling the effects of low-cost crude oil and are dealing with the rise in US interest rates - The dollar is strengthening, the euro is declining - In Piazza Affari, the uncertainty over the Veneto banks penalizes Unicredit and…
The bank of Montebelluna seems oriented to regularly repay the 150 million bond maturing on June 21st but with all the precautions that avoid revocatory actions at the expense of the administrators - Furthermore, Veneto Banca started the action yesterday…
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…
In the middle of the day, Piazza Affari is in positive territory with the lights on the banks after the Treasury declarations - Technology stocks restart in Europe after the fears of a bubble the previous day - Luxottica and FCA in…
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 -…
After Wall Street, high tech stocks are also collapsing on the Asian stock exchanges - Banks: in the next few hours it will be understood whether the systemic solution for the rescue of Popolare di Vicenza and Veneto Banca can be triggered while it becomes more complicated…
After the openings of Unicredit and Intesa to the capital increase to save the Veneto banks, the banking front is divided: Banca Mediolanum is in favor of the collection, but Mps, Ubi, Banco Bpm and even Cdp try to call themselves out and the…
Minister Padoan's pressing seems to have convinced the top management of the two major Italian banks to contribute to the recapitalization of the Veneto banks on condition that the other banks also do their part to raise the necessary 1,2 billion euros…
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...
Alitalia: Etihad tries again, Lufthansa slips away - Pop Vicenza and Veneto Banca: all risks according to S&P - Fines: if you don't pay from 1 July, the withdrawal on your current account will be triggered - Fs: Naples closer to Rome, inaugurated…
Mirko Sanna, financial service director of Standard & Poor's underlines which and how much risks Veneto banks run - Investor perception will be fundamental - A further downgrade of Veneto Banca's rating could cause losses for…
"Any form of eventual resolution of the Veneto banks will be rejected with all strength": claims the former prime minister and secretary of the Democratic Party, Matteo Renzi, in an interview with Sole 24 Ore, in which he urges all the Italian institutions (Government and Bank…
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…
After the Atlante fund refused to refinance Popolare di Vicenza and Veneto Banca, the Carige case broke out, where the first shareholder Malacalza fired CEO Bastianini causing the postponement of the capital increase and the consequent risk of the institution being placed in receivership…
The Governor will present today the traditional Final Considerations of the Bank of Italy, the last of his first term in via Nazionale - The market is attentively awaiting any references to Mps, Veneto Banca and Pop Vicenza - Also awaiting a clear…
Tuesday 30 May is the day of the leadership of the Democratic Party, which confirms the intention to proceed on the German model for the electoral law - The final approval is also close and, at this point, the early elections - A lively day also on the…
The no was in the air, also in light of the stoppage arrived by the banks and foundations that are shareholder of Atlante: "Too many uncertainties, there are no conditions".
This was stated by the president of Poste Italiane, Maria Bianca Farina: the group already invests 260 million euros in Atlante through Poste Vita.
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…
Italian institutions under fire on the Ftse Mib awaiting news on the negotiations with the EU to save the two Venetian banks - After a new collapse in crude oil (-4,6%) the oil sector is the worst in Europe - Good…
The price of oil loses almost 4,5% after the OPEC agreement on production cuts but Wall Street keeps going and reaches new records - For Eni, problems from Kashagan - Ok for the BTP exchange - Banks under pressure…
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
All European lists recovered with the exception of Milan, which discounts the default risk of Pop Vicenza and Veneto Banca - The main credit titles all negative: Bper is the only one bucking the trend - Azimut and Anima…
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…
At the same time, the state contribution will be reduced from 4,7 to 3,7 billion, because according to Brussels public funds cannot cover the losses associated with the devaluation of NPLs - It is difficult to hypothesize a new intervention by Atlante, committed to…
Without the green light from the European Commission for the precautionary recapitalization, business continuity will be put at serious risk for Popolare di Vicenza and Veneto Banca - Viola: "We hope to receive the go-ahead by the summer"
"Atlante will soon no longer be the reference shareholder of these banks", announced the representative of the fund - Approved the 2016 financial statements which recorded billionaire losses - The meeting of the Popolare di Vicenza rejects the liability action against Iorio.
Among the various measures included in the Def there is also an intervention for the precautionary recapitalization of banks in difficulty, for which the document assumes "a use equal to about half of the resources made available with the decree" of ...
The boards of directors have decided: Veneto Banca will pay the shareholders who have adhered to the offer 248,5 million euro, while the shareholders of Veneto Banca will receive 192,8 million.
The Board of Directors has decided to make the settlement offer effective for shareholders, despite the adhesions having not reached the minimum threshold of 80 percent initially indicated as a precedent condition.
Once the results of the transaction and the related economic impacts on the two institutes are known, the management will be able to concentrate on drafting the industrial plans, which will have to concentrate on cutting costs and returning to profitability.
The situation of the Veneto banks "is worse than what I found at Monte dei Paschi di Siena at the end of 2011, not only due to a lack of capital and liquidity but above all due to a lack of reputation": declared Fabrizio Viola, CEO…
Voluntary exits and early retirements may not be enough to cover the cut in costs requested by Europe - The first to be hit will be the executives, then it will be the turn of the bankers - Unions on a war footing.
Azimut and CNH run but Piazza Affari slows down - Elkann: "Fca, CNH and Ferrari grown 7 times in 8 years" - Alitalia strike, 60% of flights canceled - Popolare Vicenza and Veneto Banca sell assets to raise cash -…
Banca Popolare di Vicenza has started the sale of 15% of Cattolica Assicurazioni, which is worth 200 million, and has just sold 6,02% while Veneto Banca has already started the procedures to sell 70% of Bim which…
According to the new estimate of the central institute, reported by Bloomberg, the 5 billion initially foreseen would no longer be enough - Yesterday in Brussels the meeting to find an agreement on the recapitalization, but we need to act quickly. Losses rise to 1,5 billion in 2016…
A glimmer of light has opened on the recapitalization of Banca Popolare di Vicenza and on Veneto Banca after the four-way meeting held yesterday in Brussels between the EU Antitrust, the ECB, the Bank of Italy and the Treasury…
Today the Treasury has to respond to the findings of the EU on the reimbursements to shareholders for previous losses: the go-ahead for the capital increase and the entry of the State depends on Brussels - Veneto Banca will formalize the 2016 losses during the day, while…
There is no peace for the Veneto banks: surprisingly, the European Union Competition DG has asked the Treasury for urgent clarifications on the settlement offer to shareholders for the previous losses of the shares, overshadowing the doubt that it may be incompatible with the intervention …
Today the CEOs will report to the boards of directors on Thursday's meeting with the ECB - Viola supervisors: "We must act quickly, uncertainty creates enormous damage" due to the flight of capital and savers and the scarcity of liquidity.
Today, Trump's war on duties still holds sway, which however in the aftermath of the start of Brexit does not weigh too much on the European markets, which indeed benefit from the good news coming from the US economy - Then the Venetian banks in Frankfurt and…
Today the heads of the Venetian banks illustrate to the ECB the conditions of the two institutions and the project to save them but 5 billion of new capital increase is needed: Atlante will not put more resources, hopefully in the green light to the Treasury
Requests for reimbursements from shareholders of Veneto banks exceed 70% to close the dispute over share losses - La Popolare di Vicenza closes its financial statements in deep red
The clashes over the Tap in Puglia, the new referendum in Scotland and then the Stock Exchange and important news from the Veneto banks and from Carige.
The terms of the settlement offer (Opt) proposed by Banca Popolare di Vicenza and Veneto Banca to the shareholders penalized by the devaluation of the shares in exchange for the waiver of the requests for compensation are officially closed: the transaction with the shareholders has…
After two extensions, the deadline was set for today, Tuesday 28 March, at 13.30. The boards of directors of the two banks will immediately take stock of the operation
Danielle Nouy, head of ECB Supervision, opens up to the Sienese bank and does not close the doors to the merger between the Veneto banks, even if she recalls that the matter is in the hands of Brussels
The heads of the two institutes do not despair of reaching the target of 80% participation - Only after the closing of the operation will the councils be able to calculate exactly how much money is needed for the capital increase - There is talk of a total of 5 billion.
The deadline for requests for reimbursement from savers and shareholders to Banca Popolare di Vicenza and Veneto Banca, which expired today, has been extended to Tuesday 28 March: in this way it is hoped to raise the quorum which would facilitate the recapitalization
Economy Minister Padoan meets today with the head of the European Antitrust, Vestager, to try to unblock the State's entry into Popolare Vicenza and Veneto Banca before the merger - First clash in court between Mediaset and Vivendi - The FBI puts Trump in …
Banca Popolare di Vicenza and Veneto Banca with two separate letters ask the Ministry of the Economy for "extraordinary and temporary financial support from the State" to increase the capital in view of the merger - But the match with Europe will not be…
Meanwhile, the CEO of Banco Bpm, Giuseppe Castagna, has opened up the possibility of using Atlante 2 for the further recapitalization of Banca Popolare di Vicenza and Veneto Banca
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.…
