Bank of Italy new rules on hybrid instruments to facilitate mergers - report |
|
|
|
Published
:
Wed, 10 Jan 2007 10:15
|
MILAN - New Bank of Italy regulations allowing banks to make greater use of hybrid instruments for capital reserve requirements could facilitate mergers in the banking sector, Il Sole 24 Ore said.Under the new regulation, passed on Dec 27, the central bank increased to 20 pct from 15 pct the proportion of hybrid instruments banks can issue to cover their reserve requirements.Citing a report by Societe Generale, the daily said Italian banks could now potentially issue hybrid securities worth an overall 14 bln eur for reserve requirements.Il Sole said the new regulations will make mergers easier because banks will not have to resort to big capital increases to fund acquisitions.Hybrid instruments combine characteristics of equity capital and of debt or a range of other financial instruments.stephen.jewkes@thomson.comsj/wjCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
|
|
|
|
|
|
|
| Stock
Quotes * |
|
NASDAQ
|
|
1445.56 |
-46.82 (
-3.19 %)
|
| SYMBOL (
2008-12-04 ) |
| LAST |
CHANGE
|
|
BG GROUP
(
11:35am )
|
|
850.00 |
+50.50 (
6.27 %)
|
|
NEXT
(
11:35am )
|
|
1058.00 |
+45.00 (
4.49 %)
|
|
SABMILLER
(
11:35am )
|
|
1076.00 |
+31.00 (
2.95 %)
|
| SYMBOL (
2008-12-04 )
|
| LAST |
CHANGE
|
|
DUPONT
(
4:01pm ) |
|
23.69 |
+0.08 (
0.36 %)
|
| SYMBOL (
2008-12-04 )
|
| LAST |
CHANGE
|
|
|
Print this Story
Milan shares AFX at a glance outlook 