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Home > News > Forex News SendPrintAdd To Italy bank body head sees no need for state stakes
Tue, Oct 28 2008, 14:59 GMThttp://www.afxnews.com


ROME, Oct 28 (Reuters) - There is no need for Italian banks to take up the government's offer of emergency capital injections, the head of the Italian Banking Association said on Tuesday.

We believe the solidity of the Italian banking system should mean it is not necessary for make use of the opportunity offered by the government measure, a measure we think however is well designed, Corrado Faissola told a Senate hearing.

The cabinet passed a decree on Oct. 8 which allows it to provide capital to banks in return for non-voting shares.

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Copyright Thomson Financial News Limited 2008. All rights reserved

ROME, Oct 28 (Reuters) - There is no need for Italian banks to take up the government's offer of emergency capital injections, the head of the Italian Banking Association said on Tuesday.
We believe the solidity of the Italian banking system should mean it is not necessary for make use of the opportunity offered by the government measure, a measure we think however is well designed, Corrado Faissola told a Senate hearing.
The cabinet passed a decree on Oct. 8 which allows it to provide capital to banks in return for non-voting shares.
tf.TFN-Europenewsdeskthomsonreuters.com cmr
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.

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