ROME Jan 24 The Italian Treasury on Thursday
said troubled bank Monte dei Paschi di Siena has not yet
fulfilled the conditions needed to receive some 3.9 billion
euros of state loans that have been authorised but still not
Monte Paschi shareholders must formally approve the request
at a meeting scheduled for Friday, and the Bank of Italy must
give its opinion on the operation before it can go ahead, the
Treasury said in a statement.
Italy's third largest bank could face losses of as much as
720 million euros ($956 million) on past trades in financial
derivatives which came to light this week, chief executive
Fabrizio Viola has said.
(Reporting by Gavin Jones)