Financial Institutions and Bn

Facebook Twitter: Italy eighth-largest bank, which needs the money to fill a capital gap and avert the risk of being wound down, will be 99.3% owned by a newly created bank rescue fund that underwrote the cash call, according to The Guardian. The Atlante fund raised €4.25 bn from Italy leading financial institutions, at the lower end of a €4-6 bn range initially targeted. The stock market in Milan said it could not allow Popolare di Vicenza to list after investors bought just 7.7% of its €1.5 bn share issue. More than a third of the fund resources will be tied up in a single bank. Facebook Twitter Pinterest Italian PM Matteo Renzi. Shares in banks UBI Banca, Banco Popolare, Popolare di Milano and Monte dei Paschi di Siena and Uni Credit fell by 5-7%. In a sign of a growing political backlash over Italy banking problems, a group of small investors who had their savings wiped out in last year rescue of four lenders heckled the prime minister in his home city of Florence. (news.financializer.com). As reported in the news.