(Corrects stock code for Nomura)
MILAN Jan 22 Japanese bank Nomura Holdings Inc
said on Tuesday the derivative trade with Banca Monte
dei Paschi was reviewed and approved at the highest
level within the Italian bank, including by their then Chairman
The trade was also reviewed by external auditor KPMG, Nomura
said in an emailed statement, adding it had "acted fairly and
reponsibly with its client at all times."
Earlier on Tuesday Italian daily Il Fatto Quotidiano
reported that a derivative contract designed by Nomura for
Italy's third-biggest lender will register a loss of 220 million
euros in the bank's results for 2012.
In its statement Nomura said it was one of several banks
approached to de-risk positions held by Monte Paschi "that they
had previously purchased from Dresdner".
Nomura said it had won the mandate based on the competitive
pricing of its restructuring proposal in relation to other bids.
(Reporting By Stephen Jewkes)