November 9, 2018 / 9:46 AM / 10 days ago

Italy banks studying idea of credit line to help protect deposits

MILAN, Nov 9 (Reuters) - Italy’s banks and deposit protection fund (FITD) have been studying for more than a year the idea of granting the fund a credit line as alternative to injecting new funds from the lenders, two sources told Reuters on Friday.

They are considering setting up a 2.7 billion euro credit line aimed at safeguarding bank deposits under 100,000 euros, the source said. (Reporting by Paola Arosio and Stefano Bernabei, writing by Giulio Piovaccari)

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