ECB denies world's oldest bank more time to find funding: media
Published Fri, Dec 9, 2016 · 03:14 PM
[MILAN] The European Central Bank (ECB) has refused to allow Italy's Monte dei Paschi di Siena more time to raise the cash it needs to avoid being wound down, media reports said Friday, spooking markets.
The world's oldest bank had asked for an extension on Wednesday, saying political instability created by Prime Minister Matteo Renzi's resignation has left investors reluctant to commit funds.
AFP
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Thai central bank says holding key rate steady creates ‘policy optionality’
China’s Noah to hire 50 to 100 wealth managers in Hong Kong, Singapore
Australian inflation boosts case for higher-for-longer rates
Hong Kong crypto ETF launches will test ambition to be digital-asset hub
Visa results beat expectations on strong consumer spending trends
Goldman Sachs shares rise to notch first record high since 2021