Italian Banking Association (ABI) threatens to sue EBA over capital rules

09 December 2011

ABI also stresses that the timing of the proposed recapitalisations are highly inappropriate due to the European negative economic outlook for the years to come.

"ABI will follow every path possible, including the legal one, to oppose the EBA's decision", Giuseppe Mussari told a banking conference in Rome. EBA's assessment of banks' capital requirements was "wrong in its method and its conclusions, and does not take account of the specific factors affecting Italian banks", Mussari was quoted as saying by Italian news agency, ANSA. EBA raised capitalisation requirements for European lenders on Thursday in view of the spreading debt crisis, forcing banks to mark-to-market eurozone debt in their portfolios. "This puts banks that have always bought sovereign bonds in great difficulty", said Mussari.

Press release (only in Italian)

© ABI - L’Associazione Bancaria Italiana