Bank of Italy revaluation will not help lenders in ECB asset review-Visco
ROME Dec 12 (Reuters) - Bank of Italy Governor Ignazio Visco said on Thursday that the revaluation of private lenders' holdings will not help them in the asset quality review planned by the European Central Bank.
During testimony in parliament over the measure, Visco said it was "not true" that the revaluation, which still faces final approval by the European Central Bank, will help during the asset review. Even if it is approved, it will only affect capital levels in 2014, Visco said.
The value of bank shares in the central bank has been frozen since the 1930s, when it was set at the equivalent of 156,000 euros ($215,100), but now the shares could be worth 5 billion to 7.5 billion euros.
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