January 22, 2013 / 10:09 AM / in 5 years

Monte Paschi says reviewing Nomura derivative trade

MILAN, Jan 22 (Reuters) - Banca Monte dei Paschi di Siena , Italy’s third biggest lender, said on Tuesday a derivatives contract with Nomura is included in a series of structured transactions that are currently under review.

A report in Italian daily Il Fatto Quotidiano said the trade, dubbed Alexandria, would trigger a loss of at least 220 million euros ($292.93 million) in the Italian bank’s 2012 accounts.

In a statement Monte dei Paschi said it was completing a review of past structured transactions still in its portfolio and expected to submit it to its board by mid-February.

The bank will provide a timely indication of any possible impact on its capital stemming from those transactions, the statement said.

$1 = 0.7510 euros Reporting By Silvia Aloisi

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