Bank Of Italy

Bank Of Italy News

• UniCredit’s Dieter Rampl Won’t Seek Another Term as Chairman

  Dieter Rampl won’t stand for another term as chairman of UniCredit SpA as investors including Fondazione Cariverona seek an Italian replacement.

• UniCredit Says Rampl Won’t Seek New Term as Chairman as Board May Be Pared

  UniCredit SpA, Italy’s biggest bank, said Chairman Dieter Rampl won’t stand for another term as the lender decides whether to reduce the size of its board.

• Euro-Area Slump Eases as Confidence Improves, Eurocoin Shows

  The euro area’s economic slump eased in February as companies and consumers grew more confident, the Eurocoin index showed.

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  Euro Area Leaders Consider Greek Exit at Their Own Peril: View

  Leaders of the euro area’s wealthier nations are increasingly raising a provocative question: Might the common currency now be strong enough to end the bailout agony and let Greece go?

• City of Milan Negotiating New Swap Terms With Foreign Banks

  The City of Milan is in talks with four foreign banks to annul interest-rate swap agreements in return for about 400 million euros ($526 million) from the institutions.

• Italian Government Debt Increases to $2.5 Trillion With Euro Bailout Costs

  Italian government debt rose 4 percent in 2011 to 1.897 trillion euros ($2.5 trillion) on funding for European bailouts and a weaker euro that increased the cost of servicing foreign-denominated debt, the Bank of Italy said in a report today.

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  Italy Slips Into Fourth Recession Since 2001 as Economy Contracts 0.7%

  The Italian economy entered its fourth recession since 2001, contracting more than economists forecast in the fourth quarter as government austerity measures weighed on growth.

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  Italy Meets Target as Borrowing Costs Decline at 12 Billion Euro Bill Sale

  Italy sold 12 billion euros ($15.9 billion) of Treasury bills today, meeting its target for the auction, and borrowing costs fell to the lowest since June from the previous sale.

• ECB Collateral Move Gives Additional EU70 Billion to Italy Banks

  The European Central Bank’s approval of the temporary use of credit claims as collateral in central bank funding operations by seven euro-area member central banks will provide as much as 70 billion euros of additional funding for Italian banks, according to Fabrizio Saccomanni, director general of the Bank of Italy. Saccomanni spoke to reporters in Rome. The Bank of Italy is one of the seven central banks.

• Italy Industrial Production Rose in December Even Amid Austerity Measures

  Italian industrial production unexpectedly rose in December, even as quarterly data suggest that the euro’s area’s third-biggest economy may have entered its second recession since 2009 amid tax hikes and budget cuts.

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