The entry into force of the bail-in
in 2016 was "rushed," Bank of Italy oversight chief Carmelo
Barbagallo said Friday.
It is now "almost inapplicable" because some basic
prerequisites such as banks setting up liabilities suitable to
be reduced or converted into new capital (MREL) are lacking, he
said.
The situation is set to last, Barbagallo said, because the
"full entry into force of the MREL has been set at 2024".
He said capital from professional investors was needed.
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