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ECB says Paschi bank needs 8.8b euros of capital

Wednesday, December 28, 2016 - 05:50

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On Friday, the Italian government said it will plow as much as 20 billion euros into Monte Paschi and other banks after the lender failed in its plan to raise about five billion euros from the market.

Rome

THE European Central Bank (ECB) sees Italian lender Banca Monte dei Paschi di Siena SpA needing about 8.8 billion euros (S$13.3 billion) of capital to bolster its balance sheet after liquidity deteriorated this month.

The calculation is based on the results of a 2016 stress

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