Italy Said to Seek 6-Month Extension of Bad-Loan Guarantees
- Banks are allowed to purchase guarantees after bundling loans
- Italian Treasury started process to get EU Commission Approval
The UniCredit SpA headquarters stand in Milan,.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
The Italian Treasury is seeking European regulatory approval for a six-month extension of its state-guarantee program for banks’ bad loans, a person with knowledge of the matter said.
The Treasury has reviewed options before deciding to ask the European Commission for an extension of the current program at similar conditions, said the person, who asked not to be identified because the matter isn’t public. Italy started the process to get Commission approval to extend the program, known as GACS, that expires in September, the person added.