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REFILE-Popolare Vicenza, Veneto Banca liquidity conditions fine -Atlante
October 14, 2016 / 9:52 AM / a year ago

REFILE-Popolare Vicenza, Veneto Banca liquidity conditions fine -Atlante

(Adds dropped word ‘plan’ in fourth paragraph)

MILAN, Oct 14 (Reuters) - The liquidity conditions of Banca Popolare di Vicenza and Veneto Banca are fine, the key shareholder in the two regional lenders that have suffered deposit flights in the past said on Friday.

Alessandro Penati, chairman of the asset manager running bank rescue fund Atlante, said reassuring investors over the liquidity positions of the two lenders had become necessary after comments by rating agency Moody’s on the risks linked to Italy’s constitutional referendum.

Moody’s analysts said on Thursday a “No” victory at the Dec. 4 referendum would unnerve investors, making any capital raising more difficult for weak banks such as Monte dei Paschi , Carige, Veneto Banca and Popolare Vicenza.

“Moody’s is creating a big problem for us, we must say a funding plan is in place until 2017,” Penati told a conference.

“We finally managed to stabilise the two banks, the concern is always that depositors may get alarmed by what they read in the press, liquidity conditions have stabilised they should leave us alone,” he later added on the sidelines.

Atlante took over the two banks after share offers needed to keep them afloat failed to meet demand.

Reporting by Valentina Za

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