December 20, 2016 / 9:42 AM / 2 years ago

Bank of Italy says institutions have solutions to bank troubles

Bank of Italy Governor Ignazio Visco attends the session 'Recharging Europe' in the Swiss mountain resort of Davos January 23, 2015. REUTERS/Ruben Sprich

ROME (Reuters) - Bank of Italy Governor Ignazio Visco said on Tuesday that national and European institutions are committed to finding solutions to the problems of the country’s banks that are in need of help.

“The difficulties of some banks are being handled with the maximum commitment not only by the banks themselves but also by national and European authorities, which are identifying where reasonable and satisfactory solutions are needed within a complex and varied regulatory context,” Visco said at a book presentation in Rome.

The Italian government decided on Monday to seek parliamentary approval to borrow 20 billion euros ($20.78 billion) to underwrite the stability of its wobbly banking sector, starting with a likely bail-out of Monte dei Paschi di Siena, as early as this week.

Reporting by Stefano Bernabei, writing by Steve Scherer; Editing by Crispian Balmer

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