On Thursday 12 September the European Commission approved amended commitments submitted by Italy concerning support for the Monte dei Paschi di Siena Bank.
These are amended commitments, since the initial green light given by the Commission to this preventive recapitalisation dates back to July 2017 (see EUROPE B11822A29).
As part of this first decision, the banking institution had to issue Tier 2 securities within a certain period of time. But Rome has asked for an extension of this...