ROME Jan 22 Giuseppe Mussari resigned as head
of Italy's banking lobby ABI on Tuesday after a source said
Banca Monte dei Paschi di Siena, where he served as
chairman until last year, would book a 220-million-euro loss on
a three-year-old derivative contract.
"I made this decision convinced that I have always respected
the rules of our association, but at the same time I did not
want to harm in any way our association," Mussari said in his
resignation letter, which was obtained by Reuters.
Mussari made no mention of the Siena bank or of the
Japanese bank Nomura, which designed the 2009
derivatives deal for Monte dei Paschi, said earlier on Tuesday
the trade had been reviewed and approved by Mussari.
(Reporting by Stefano Bernabei, writing by Steve Scherer)