Italian banks may need state aid to hit 9% core capital, says Saccomanni

fabrizio-saccomanni

Italy's largest banks may need government support to meet tougher new core capital requirements demanded by European banking authorities by the end of June this year, Fabrizio Saccomanni, the director-general at the Bank of Italy, told an Italian Senate hearing on January 31.

The European Banking Authority (EBA) in December last year told Europe's largest banks to temporarily raise their core Tier I capital ratios to 9% by the end of June 2012. The EBA said the raised capital buffers were

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