ROME (Reuters) - Italy’s outgoing Economy Minister Vittorio Grilli said on Tuesday that Bank of Italy oversight had identified problems at troubled Banca Monte dei Paschi di Siena bank and prevented further “anomalous” operations.
An inspection in 2010 identified liquidity problems and overexposure of the Tuscan bank, Grilli said during testimony to parliament. Another inspection a year later showed the bank had not overcome its problems, he said.
“An intense activity of supervision allowed the identification and the prevention of anomalous behavior,” Grilli said, adding that the central bank had imposed sanctions on management.
The 2011 inspection “showed that the problems that had been highlighted were not overcome,” Grilli said.
Chairman Giuseppe Mussari resigned from the bank last year.
Reporting by Steve Scherer