Mps, yes the Eu to the State guarantee, The bank is ready to new issues – Corriere della Sera

The Monte dei Paschi di Siena is preparing to return in a very short time to do with on the market, taking advantage of the guarantee granted by the State and, therefore, the rating of the Italian Republic, and to replenish liquidity, that with the escape of the deposits triggered by the difficulties of the recapitalization plan, has fallen drastically in the last few months. To December 21, according to the institute, the one that is available a month it had fallen to just 7.7 billion euros. The bank’s objective of siena is to recover within the year at least 15 billion, in order to bring the liquid media to the level of the end of 2015, and to reassure the network and the depositors. The return of Monte Paschi on the market, from which it is absent from very long time because of a credit very low, it should be done in the first days of the next year.

The plan on the board

Already, the project will be discussed by the Board of directors of the institute, even though it will still take a few days before the resolutions. The authorization of the government guarantee for new issues of the Mount, the request from the government to the Eu Commission, arrived yesterday afternoon, along with the go-ahead for the extension up to June of the general scheme of the public guarantee on the liquidity of the banks, provided for in the decree of Christmas. The public coverage on the issues the Mps was notified and authorized separately, as provided for in the Eu rules, because the institute suffers from a lack of capital understood of the stress test.

Warranty expensive

The guarantee is against payment for the institutions that may request it (in 2017 expire bank bonds to 112 billion by renew to maintain the liquidity of the system on the current levels) may be granted on debt instruments, fixed rate and non-subordinated repayment. The secured notes will be used by the institutions as collateral to obtain liquidity from the Ecb.

Gentiloni: the Ecb work together

On the case the Mps returned yesterday the chairman of the Board, Paolo Gentiloni, confirming the wonder of the Ecb’s decision to seek a capital increase of 8.8 billion, of which 6.6 to load the State, has explained yesterday the bank of Italy, to bring the capital ratio to 11.5%. “It was a news former-dismiss, and it is not a story that can only be resolved with communication. We rely on the cooperation and constructive as possible: in the coming weeks – said Gentiloni – keep to the point. It is important that there are assessments shared”.

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December 29, 2016 (edit, December 29, 2016 | 22:57)

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