ECB’s Visco Says Some Italian Lenders Still Need More Capital
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European Central Bank council member Ignazio Visco said some medium to large Italian banks need more capital as the country’s recession drags on.
“Some large- and medium-sized groups still must make progress on the road to broadening their resources,” Visco, also head of Italy’s central bank, said in a speech today in Bergamo, Italy. Increasing capital “allows a reduction of financial leverage without cutting credit support to the real economy. The strengthening is in the interests of shareholders.”