SIENA, Italy, April 29 Italy's third biggest
bank, Monte dei Paschi di Siena, needs to be able to
pay back cheap funds it borrowed from the European Central Bank
on schedule and without hurting the lender's liquidity, its CEO
said on Tuesday.
"The liquidity situation has improved a lot but there is
still a lot of work to do. We need to create the conditions to
pay back the LTRO fully respecting the deadline," CEO Fabrizio
Viola told a shareholder meeting.
The bank borrowed 29 billion euros in three-year funds
through the Longer Term Refinancing Operations launched by the
ECB in December 2011 and February 2012. These funds have to be
repaid by the end of February 2015. The bank has so far
reimbursed 1 billion euros.
(Reporting by Silvia Aloisi and Stefano Bernabei; editing by