Bank of Italy steps in to investigate ‘hidden' derivatives deals

portonebancamontedeipaschidisiena1

The Italian central bank has stepped in to investigate a growing scandal at Italy's oldest bank Monte dei Paschi di Siena (MPS), which has already cost the head of the country's banking association his job.

The Bank of Italy said on January 23 that the true nature of some of MPS's transactions had been "kept hidden from the supervisory authority". MPS revealed the same day that it is investigating three deals – called ‘Alexandria', ‘Santorini' and ‘Nota Italia' – and has requested €500 million

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: