MILAN, March 11 (Reuters) – The Bank of Italy has told some
of Italy’s biggest banks to hike bad loans provisions after a
sector audit showed they were vulnerable to defaults from small
firms struggling in a deep recession, two senior banking sources
The central bank issued the instructions after conducting
confidential inspections lasting two to three months at 20-30
large listed and unlisted banks, both sources said.
MILAN, March 11 (Reuters) – Italian bond yields climbed on
Monday after Fitch downgraded its credit rating on the country,
bringing Rome’s borrowing costs ever nearer those of troubled
euro zone peer Spain.
Italian 10-year government bond yields inched up to 4.65
percent by 0900 GMT from 4.59 percent after Fitch
cut Italy’s credit rating to BBB+. The benchmark Milan FTSE MIB
share index was down a relatively modest 0.7 percent.