Italian lender cuts exposure to Nomura as required by ECB

Rome

TROUBLED Italian lender Monte dei Paschi di Siena has reduced its exposure to Japanese bank Nomura to within regulatory limits, as required by the European Central Bank (ECB), two sources close to the matter told Reuters.

The bank had a 4.7 billion euro (S$7.1 billion) net exposure to Nomura at the end of March, nearly half its total capital and almost double the 25 per cent limit set by regulators for bank exposures to a single party.