Italians Flee Local-Bank Debt, Cut Holdings 52% Since ’12: Chart

Italian households have traditionally owned a hefty chunk of Italian banks’ bonds, which explains why making them help pay for the rescue of troubled Banca Monte dei Paschi di Siena Spa would be so politically sensitive. Yet, the total amount of such holdings plunged to 163 billion euros ($170 billion) in mid-2016 from 342 billion euros in 2012, for a drop of 52 percent. Italian banks have trimmed their own long-term bank bond holdings by 33 percent, and own 54 percent of such outstanding debt.

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