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Italy's Treasury set to use 16 bln euros for bank recapitalisations-decree
May 23, 2017 / 9:22 AM / 6 months ago

Italy's Treasury set to use 16 bln euros for bank recapitalisations-decree

ROME, May 23 (Reuters) - Three-quarters of a 20-billion euro ($22.5 billion) fund created by the Italian government to help weaker banks can be used to recapitalise lenders, with the rest earmarked to guarantee bond issues, a government decree published on Tuesday said.

The fund, set up in December, is expected to spend around 11.5 billion euros to help recapitalise Monte dei Paschi di Siena, Banca Popolare di Vicenza and Veneto Banca.

$1 = 0.8890 euros Reporting by Giuseppe Fonte

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