EU bank crisis rules having negative impact on sector - BOI
New European rules for dealing with bank crises are having a negative impact on the sector and not just in Italy, the director general of the Bank of Italy said on Wednesday.
The new rules, which have been gradually introduced over the past few years, state that investors in an ailing bank - including retail bondholders and depositors with more of 100,000 euros - must be hit before any taxpayer money can be used to prop up the lender.
Salvatore Rossi, in comments e-mailed to Reuters, said that while it was right in principle to shield taxpayers, hitting retail investors in bank... read more
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