Italy's Draghi calls on banks to raise capital

Mario Draghi, the governor of the Bank of Italy, has urged the country's banks to increase their capital ratios in order to shore up confidence in the financial sector.

Draghi told lawmakers on Tuesday that the banks had to use "every opportunity" to raise their capital ratios, including taking advantage of Rome's offer to buy up to €12 billion-worth ($15.6 billion) of their bonds. Banco Popolare is, as yet, the only lender to use the scheme, which was devised at the end of February.

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