November 14, 2018 / 5:19 PM / 5 months ago

Italy proposes measures to help cooperative banks on spread-related losses

MILAN, Nov 14 (Reuters) - An Italian minister said on Wednesday the government would propose new measures to allow small cooperative banks not to constantly have to book losses linked to bond spread movements.

Minister for Parliamentary Affairs Riccardo Fraccaro said the measures would be introduced to protect the BCC banks from financial speculation which might impact their balance sheets.

“We also envisage that the groups should not become joint stock companies which could be possible takeover targets for foreign banks,” the minister said. (Reporting by Stephen Jewkes; Editing by Crispian Balmer)

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