The single new holding company for
cooperative banks (BCCs) contemplated under a recent government
reform should be able to open to a majority stake of outside
capital in the event of a banking crisis, the head of the Bank
of Italy's financial oversight department Carmelo Barbagallo
said in an audition before the Lower House on Tuesday.
Such a possibility should be "restricted to cases of
effective need and accompanied by adequate procedural
precautions," he added.
The measure should be authorised by the finance ministry on
the suggestion of the Bank of Italy.
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