When the European Central Bank (ECB) rejected Banca Carige’s capital conservation plan in August, its demand that the Ligurian lender must come up with a new one by the end of November was always going to be a tall order.
Carige had been trying to get a tier-2 issue off the ground all year and the recent volatility in Italian sovereign and corporate spreads wasn’t doing anything to help.
The question wasn’t really ever whether the bank would find external support to help it meet the ECB deadline, but how it was going to do it.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
