Bank of Italy capital could be re-evaluated to 5-7 bln eur-document
ROME, Sept 30
ROME, Sept 30 (Reuters) - The capital of Italy's central bank could be re-evaluated to as much as 7 billion euros from 156,000 euros currently, a Treasury document obtained by Reuters showed on Monday, in a move that domestic lenders hope would boost their own balance sheets.
Italian banks own the majority of the central bank's capital and have been pushing for a re-evaluation that they expect would increase the value of their stakes and generate a capital gain.
The Treasury has also been looking at the possibility of increasing the value of the Bank of Italy capital as a way to boost fiscal revenues by taxing the capital gains booked by lenders.
However, the document said that proceeds for the state coffers from such a move would be highly uncertain.
The Bank of Italy has asked a committee of experts, including former European Central Bank Vice President Lucas Papademos, to come up with an assessment of its capital's value, which is expected by year-end.
(Reporting by Giselda Vagnoni, wirting by Valentina Za, editing by Silvia Aloisi)
- White House reverses, says Obama met uncle and lived with him during law school
- Flights delayed as air pollution hits record in Shanghai
- South Africa mourns Mandela, will bury him on December 15 |
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- Analysis: Boeing bidders dangle goodies to win 777X jetliner