Bn Bn: Market Concerns and Health Checks

bn bn: Why is Monte dei Paschi di Siena in trouble The world oldest bank has become the focus of the market concerns about the health of the Italian banking sector, which is weighed down by 360bn 305bn of bad debts, according to The Guardian. Monte dei Paschi was the weakest performer in the annual health checks performed on 51 EU banks in July. Here is what you need to know. The European Banking Authority found its capital base would be wiped out if the global economy and financial markets came under strain and it was instructed to take preemptive action to bolster its financial strength. The Wall Street bank JP Morgan has been leading efforts to revive the bank by spinning out problem loans and raising 5bn from investors. Crisis-hit Monte dei Paschi bank refused ECB help Read more Why did it need an extension from the European Central Bank The European Central Bank issued MPS with a deadline of the end of the year to implement a plan to make it more resilient. (news.financializer.com). As reported in the news.