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Report: Italian FinMin says bank fund will not be blocked by EU regulators

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Report: Italian FinMin says bank fund will not be blocked by EU regulators

Italian Finance Minister Pier Carlo Padoan does not expectEuropean regulators to block the new state-backed fund created by Italian financial institutions to helptroubled banks, Reuters reported April 13, citing Il Sole 24 Ore.

Padoan also told the Italian daily that the government inRome is set during the week of April 18 to approve new measures aiming toexpedite bankruptcy procedures in the country. Such measures are designed tohelp lenders offload their €200 billion of nonperforming loans, according tothe report.

Padoan added that the Treasury is trimming its 65% stake inpostal, banking and insurance group Poste Italiane SpA, the newswire noted.