ROME Feb 5 The International Monetary Fund said
on Tuesday that it believed Italy's central bank did a good job
in its oversight of crisis- hit Monte dei Paschi di Siena,
Italy's third largest bank.
"The IMF team's preliminary view is that the Bank of Italy
took timely and appropriate action - within the limits of the
legal framework - to address problems at MPS," the IMF's chief
spokesman Gerry Rice told Reuters.
"Oversight was close and supervisory action escalated
appropriately as MPS's problems became acute," Rice said in a
An IMF team was in Italy until last week to conduct the
first part of an assessment of Italy's financial system.
The Bank of Italy has been widely criticised over its
oversight of Monte Paschi, which is set to tap 3.9
billion euros of state loans and whose former management is
under investigation for fraud and other financial crimes.