A new banking decree could include measures to speed up compensation for investors who lost money in four Italian banks and contribute to a new fund being studied by the government with the banking system, Junior Economy Minister Enrico Morando said Monday.
''In a very short amount of time'', Morando noted, a decree
will be approved to solve the issue of compensation for
shareholders from four Italian banks saved last year following
government intervention - Banca Etruria, Banca delle Marche,
Cassa di Risparmio della Provincia di Chieti (CariChieti) and
Cassa di Risparmio di Ferrara (CariFe).
Last week, the EU executive reached an agreement with Italy
on compensation for small investors who lost their money in the
banks.
The aim of the Brussels-Rome accord was to make it possible
for Italian authorities to grant fast compensation without
breaking the new European bail-in rules, which mean a lender's
creditors must bear some of the burden when debts are written
off.
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