The Traderszone Network

Published in TZ Latest News 23 June, 2017 by The TZ Newswire Staff

ECB orders Banca Popolare di Vicenza and another Italian bank closed

ECB declares the two banks as likely to fail
Banca Popolare di Vicenza and sister bank Veneto Banco SpA are likely to fail and will be wound up, the ECB says.  Single Resolution Board declined to step in so instead Italy insolvency procedures will be used to liquidate their assets. Depositors are protected.