The Federcasse federation of
cooperative banks (BCCs) on Thursday said the government's
reform of the BCCs was "valid" but voiced concern "on the
possibility of allowing BCCs above a certain capitalisation
threshold to cede banking activity to a limited company with a
20% enfranchisement of the indivisible reserves. Federcasse
President Alessandro Azzi voiced the hope that parliament will
"improve" the reforms to make sure the original goal of
"consolidating and bolstering Italian banking firms" is
achieved. The BCC reform was approved by cabinet Wednesday
night.
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