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FINANCIALS: Italian Bank Lobby To Explore Measures Amidst Bank Levy Reports

FINANCIALS
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  • The Italian Banking Lobby ABI’s Executive Committee has appointed an officer to explore measures to boost state liquidity while ensuring no adverse impact on banks’ capital or competitiveness compared to other European banks. The lobby argues that such measures must be temporary and predetermined in nature.
  • This comes after renewed reports this week that Italian PM Giorgia Meloni again seeks to negotiate a bank levy focused on banks' excess profits to support the budget, aiming for a consensual solution after the 2023 attempt failed due to a market sell-off.
  • Potential expansion to other sectors like energy are also reportedly being considered with the aim to avoid the legal issues faced by previous proposals.
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  • The Italian Banking Lobby ABI’s Executive Committee has appointed an officer to explore measures to boost state liquidity while ensuring no adverse impact on banks’ capital or competitiveness compared to other European banks. The lobby argues that such measures must be temporary and predetermined in nature.
  • This comes after renewed reports this week that Italian PM Giorgia Meloni again seeks to negotiate a bank levy focused on banks' excess profits to support the budget, aiming for a consensual solution after the 2023 attempt failed due to a market sell-off.
  • Potential expansion to other sectors like energy are also reportedly being considered with the aim to avoid the legal issues faced by previous proposals.