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Italy's banks press IMF on capitalization demands

ABI calls for all European banks to follow same credit rules

26 November, 15:57
Italy's banks press IMF on capitalization demands (ANSA) - Rome, November 26 - Italian bank association ABI pressed the International Monetary Fund (IMF) on Monday to not demand additional capitalization from Italian banks.

ABI claimed such a request would be disastrous for Italy's financial system and the Italian economy. ABI presented documents to an IMF delegation in Rome, arguing that Italian banks are subject to stricter norms than their European rivals with respect to credit deterioration, and for this reason appear to be more fragile.

"We want to avoid a new case with the European Banking Authority," said ABI President Giuseppe Mussari.

Mussari is asking that the same parameters be used across Europe to assess the solidity of all European banks.