The Senate on Wednesday approved a
government banking decree, making it into law.
The motion passed on a confidence vote with 171 in favor,
105 against and one abstaining. The new law contains a reform of
Italy's cooperative credit banks (BCCs) and measures on
State-backed securitization guarantees of non-performing loans
(NPLs).
The public guarantees assist the meeting of supply and
demand in the market for securitized investments, at a price
that is acceptable for the budgets of the banks that choose to
participate.
"We are about to add another brick to the construction of a
great building whose objective is the reform of the banking
system," Senate Finance and Treasury Committee Chair Mauro Maria
Marino (Democratic Party - PD) told the Upper House before the
final vote.
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