Domestic Financial Institutions and Atlante

Popolare di Vicenza: In light of an underwriting agreement, the bank said Atlante would subscribe all the remaining shares that had not been taken up in the offer, according to Euro News. The Atlante fund – Atlas in English – was set up earlier this month by mostly private domestic financial institutions to bail out weaker Italian lenders and avert a wider crisis in the euro zone fourth-largest bank sector. In a statement Popolare di Vicenza said investors bought just 7.66 percent of its capital offer which the lender is carrying out at a price of 0.1 euros per share. As part of its plans to stabilise the banking sector, the government of Matteo Renzi passed a decree on Friday to speed up the recovery of unpaid credit in a system saddled with billions of euros in bad loans. This decree aims to resolve… definitively the problems of our country banking system, he said. Renzi said the decree would reduce the time it takes to recoup credit from six to eight years to six to eight months. (news.financializer.com). As reported in the news.