Banca Monte dei Paschi di Siena

Europe to improve disclosure of ‘bad loans’ for all banks

European authorities will prepare by the end of next year enhanced disclosure requirements on bad loans as part of an action plan to tackle the risk of non-performing loans (NPL).

EU economic and finance ministers (Ecofin Council) are expected to adopt today (11 July) a plan to decrease the high level of bad loans held by banks in member states.

ECB: Monte dei Paschi di Siena needs 8,8 bn Euros!

Last Friday the Italian government announced the nationalization of the third biggest bank of the country, Monte dei Paschi di Siena. The bank had failed to find 5,5 bn Euros from private investors it needed to stay afloat.

 

The European Central Bank, however, is of the opinion that the bank needs no less than 8,8 bn Euros.

 

Peripheral banks lead European shares lower after positive start

European shares turned lower on Thursday as banks in countries such as Italy, Greece and Spain resumed their recent downtrend.

Shares in peripheral banks have mostly been falling since the publication of the results of the European Central Bank's stress tests over the weekend.