November 20, 2018 / 2:45 PM / 25 days ago

Italian yield rise not yet serious for banks: ECB

FRANKFURT, Nov 20 (Reuters) - The rise in Italian sovereign yields is not yet big enough to cause a serious concern about the health of Italy’s banks, which hold billions of euros worth of government debt, European Central Bank supervisor Daniele Nouy said on Tuesday.

“There is apparently some market sensitivity regarding the Italian government’s fiscal targets,” Nouy told the European Parliament’s committee on economic affairs in Brussels. “So far it has not spread over to other jurisdictions and I don’t think it has reached a level where it is a serious matter of concern for the banks.” (Reporting by Balazs Koranyi Editing by Peter Graff)

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