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Italy confirms Veneto banks will not face "bail-in" - minister
June 14, 2017 / 2:13 PM / 3 months ago

Italy confirms Veneto banks will not face "bail-in" - minister

ROME, June 14 (Reuters) - Italy’s Economy Minister confirmed on Wednesday that the rescue of struggling lenders Popolare di Vicenza and Veneto Banca will not involve a “bail-in” that would lead to losses for senior bondholders and depositors.

“I confirm what I said yesterday, regarding the positive state of the negotiations and the absence of the risk of bail-in,” Padoan said during question time in the lower house of parliament.

Padoan said on Tuesday that he was “close” to putting together a rescue plan for the two regional banks and that negotiations with European regulators were “encouraging”.

Reporting by Steve Scherer, editing by Isla Binnie

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