Monte Paschi says derivatives loss totals 730 mln euros
SIENA, Italy Feb 6 (Reuters) - Italy's third biggest lender, Banca Monte dei Paschi di Siena, said on Wednesday that losses stemming from three 2006-09 derivatives trades stood at 730.3 million euros, before taking into account any possible fiscal impact.
After a board meeting which lasted more than 6 hours, the bank said there had been errors in the accounting of the three trades in previous financial statements.
It said those mistakes would be corrected in the 2012 accounts.
- Insight: How U.S. spying cost Boeing multibillion-dollar jet contract
- Exclusive: Secret contract tied NSA and security industry pioneer |
- With Fed out of the way, what's next on Wall Street?
- Yemeni al Qaeda says attack on hospital was mistake
- Insight: For Chinese farmers, a rare welcome in Russia's Far East