ROME Jan 25 The Bank of Italy expressed concern
as long ago as 2010 about derivative investments at Banca Monte
dei Paschi di Siena, an Italian newspaper said on Friday citing
an official document.
"Some of the long-term investments have risk profiles that
are inadequately controlled and were not referred to the
executive administrative body," a central bank document said
about two derivatives trades after an inspection in 2010,
according to Corriere della Sera.
On Wednesday, the Bank of Italy said the new management at
Monte dei Paschi had produced documents about the derivatives
trades that had previously been hidden from it.
Monte dei Paschi this week revealed derivatives trades that
could cost it as much as 720 million euros. Contacted by
Reuters, a Bank of Italy spokeswoman had no immediate comment on