The European Commission prevented
the Interbank Safeguard Fund (FIT) from intervening in the
recent rescue of four regional lenders, the Bank of Italy said
Wednesday.
FIT's intervention "was not possible because of the
opposition shown by offices of the European Commission, which we
didn't share," the head of the Bank of Italy's oversight
committee, Carmelo Barbagallo, told the House.
A government-led rescue plan approved last month sees the
banking sector itself cover most of the cost of saving Banca
delle Marche, Banca Popolare dell'Etruria e del Lazio, Cassa di
Risparmio della Provincia di Chieti and Cassa Di Risparmio di
Ferrara.
ALL RIGHTS RESERVED © Copyright ANSA