Italian depositor guarantee fund FITD, financed by the country's lenders, d...
FILE PHOTO: The logo of the Carige bank is seen in Rome, Italy September 20, 2018. REUTERS/Max Rossi/File Photo
MILAN - Italian depositor guarantee fund FITD, financed by the country’s lenders, does not consider acceptable some of the conditions set by cooperative bank Cassa Centrale Banca to join a rescue plan for ailing Carige , daily Il Sole 24 Ore said on Wednesday. Cassa Centrale Banca asked to reduce the size of its future investment in Carige and a timeline of four years to buy FITD shares in the Genoa-based lender at a high discount, according to the report.FITD kicked off on Tuesday a 900 million euro rescue process for Carige via the conversion of around 313 million euros of a bond into shares, ahead of a Thursday deadline set by the European Central Bank to find a solution for the troubled lender.
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