Govt to set up 5bn-euro fund for banks (2)

Limited backing from CDP State lender

(ANSA) - Rome, March 11 - The government is setting up a five-billion-euro fund to shore up Italy's banks, sources said Monday. The fund with limited participation from Italian state lender Cassa Depositi e Prestiti (CDP) will back capital increases for troubled banks and help clean up non-performing loans, according to participants at a meeting between the treasury ministry and executives from Italy's leading banks. The stock market closed in positive ground earlier as investors snapped up bank shares ahead of the meeting.
    The CEOs of Banco Popolare, Banca Popolare di Milano, Intesa Sanpaolo, BNL, Popolare Emilia Romagna, Credito Emiliano and Credito Valtellinese were seen going in to the meeting.
   

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