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Italian Banks May Take Legal Action Against EBA, Ansa Reports

Italy’s banking association will oppose new capital requirements set by the European Banking Association “in every way” and is ready to take legal action should it be required, the association’s head Giuseppe Mussari said, according to the Ansa newswire.

The comments followed a Dec. 9 statement from the banking association, known as ABI, saying the new rules would increase market volatility and ran the risk of causing a credit crunch.

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