A European Central Bank inquiry
into some Italian banks' bad loans "is part of the preliminary
activities of the ECB task force and is an ordinary practice of
stock taking on which to base subsequent action," the head of
the Italian Banking Association, Giovanni Sabatini, said
Tuesday. He stressed it was "not an oversight action aimed at
adopting specific measures towards certain banks". Sabatini also
noted the request for information had been made for other
eurozone banks too, not just Italian ones.
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