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.
- Qatar adamant it will host 2022 World Cup despite doubts
- Argentina's Fernandez to meet billionaire investor Soros in New York
- New Jersey hiker killed by black bear: police
- Exclusive: Iran seeks give and take on Islamic State militants, nuclear program
- Islamic State urges attacks on U.S., French citizens, taunts Obama