End of NPR 'bonanza' with Atlante - Guzzetti (2)

Major move if followed by decree

(ANSA) - Milan, April 14 - A speculators' "bonanza" in snapping up Non-Performing Loans (NPLs) at as much as 18-20% interest has been ended by the Italian financial sector's new Atlante Fund, Cariplo Foundation President Giuseppe Guzzetti said Thursday. The foundation set up the new fund with the Quaestio capital management firm to help weaker banks, with stronger banks chipping in. He said it would be an even more "major" move if backed by a government decree. The financial industry approved a government-backed plan Monday to set up the privately financed fund to buy up shares in struggling Italian lenders and to take on their non-performing loans.


Change cookie consent