ECB's Angeloni says banks' exposure to Italian BTP doubled

Urges acceptance of single resolution mechanism

(ANSA) - Rome, June 23 - The exposure of Italian banks to government bonds has doubled, from about 200 billion euro pre-crisis to the current 400 billion euros, a member of the supervisory board of the European Central Bank (ECB) said Tuesday.
    Ignazio Angeloni told an Italian Senate hearing that the level of risk and interconnection between sovereign bonds and banking is also "true at European level...and it must be addressed at the international level, by the Basel Committee".
    That committee deals with financial stability issues.
    Angeloni said that it was important Italy and other eurozone countries adopt "without delay" a European Commission directive on a single resolution mechanism on banking issues related to failures and access to a resolution fund.
   

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