EU says not yet ready to assess Italy bank fund (2)

Only preliminary info, in touch with Rome

(ANSA) - Brussels, April 12 - The European Commission said Tuesday it was not yet ready to evaluate a new Italian fund aimed at helping struggling banks in the future. The EC said it only had "preliminary information" on the fund and "is not able to evaluate it". It said it was "in touch with the Italian government" on the scheme, unveiled Monday. So far the Italian government has not outlined any measure that would imply State aid so the EC "cannot comment" on that aspect. The government said Monday night it was setting up a five-billion-euro fund to shore up Italy's banks. The fund with limited participation from Italian state lender Cassa Depositi e Prestiti (CDP) will back capital increases for troubled banks and help clean up non-performing loans.
   

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