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Monte dei Paschi needs more cash

June 7, 2014

? Bailed-out Italian bank Monte dei Paschi di Siena has warned its 5bn share issue may not be enough to bolster its balance sheet if EU regulators force it to set aside more cash to cover for bad loans. In a 515-page prospectus for the cash call, due to start on Monday, Italy''s third-largest bank said it could need further capital-strengthening measures after the European Central Bank (ECB) and the European Banking Authority (EBA) complete their review of lenders across the Eurozone.

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Source: City A.M. (UK)

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