The 70,000 savers lost total: Italy wants to save Volksbank 900 million euros

Rather, to increase the capital of the state development Bank Banca del Mezzogiorno-Mediocredito Centrale (MCC). This should, together with the Deposit guarante

The 70,000 savers lost total: Italy wants to save Volksbank 900 million euros

Rather, to increase the capital of the state development Bank Banca del Mezzogiorno-Mediocredito Centrale (MCC). This should, together with the Deposit guarantee Fund FITD and other possible investors to take over the restructuring of the Volksbank in Bari. You should also take a stronger role in the promotion of the Mezzogiorno, of depressed Italian South.

On Friday the Bank of Italy had asked the Volksbank in the Region of Puglia under state supervision. The management bodies of the Bank were dissolved and two state commissioners, as well as three other persons as members of a monitoring Committee was appointed. The Bank itself called on their website "property losses" as a Background. The business should normally continue to run.

core capital ratio (CET1) is only 6.22 percent

In the past years, the Italian state had to save again and again of banks, including Monte dei Paschi di Siena (MPS), the oldest money in the world. Because of the long-term economic downturn, the banks have accumulated in the country, many of the problematic loans. Display

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According to a report in the economic newspaper "Il Sole 24 ore", the Institute in Bari because of his "sick" balance sheets for quite some time under observation. In the past four years, had accumulated losses of one billion euros. The hard core capital ratio (CET1) dropped to very low 6.22 percent.

70.000 small savers threatens total loss

the Prime Minister, Giuseppe Conte had confirmed on Sunday that everything will be done to protect savers and to bring those responsible to justice. Within the European Union (EU) are Bank deposits protected up to 100,000 euros per customer and the Bank by law.

In the case of Bari there are, however, according to press reports, approximately 70,000 small savers do not have invested your money in savings accounts, but certificates have invested in the Bank. These small shareholders could threaten the collapse of the Bank of the total loss. This would also have serious social impacts in the Region in the Mezzogiorno.

this Is still legal? How negative interest rates melt away the assets of Small savers PCP Is still legal? How negative interest rates melt away the assets of Small savers

pom/dpa
Updated Date: 23 December 2019, 10:48

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