Italy's Intesa SP, Treasury to weigh banks help
MILAN, Jan 12 (Reuters) - Italy's Intesa Sanpaolo SpA (ISP.MI) will meet with Treasury officials in coming weeks to evaluate possible moves to bolster the banking system, Chief Executive Corrado Passera said on Monday.
The center-right government is completing an aid package for banks caught up in the credit crunch. The European Commission has approved the measures, which include a budget of up to 20 billion euros ($26.81 billion) and which would see the Italian state underwriting subordinated debt instruments.
"We will evaluate the proposals in the next few weeks together with the Treasury ministry, as to whether it is possible to reinforce the banking system," Passera said during a debate on the CNBC cable television network.
"Absolutely, with the right conditions and the right commitments, it will be good to work together."
He added: "Right now, there is no need to intervene in Italy."
Passera said in a newspaper interview in November that he preferred a subordinated perpetual bond that would be recallable by the issuer and refundable in cash. ($1=.7461 Euro) (Reporting by Giancarlo Navach, writing by Ian Simpson, editing by Gerald E. McCormick)
