Italy state lender has no plans to raise stake in bank rescue fund

May 4, 2016 2:28 PM

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ROME May 4 Italy's state lender Cassa Depositi e Prestiti (CDP) does not plan to increase its stake in a rescue fund for the country's struggling banks, Economy Minister Pier Carlo Padoan said on Wednesday.

Italy's main financial institutions agreed earlier this month to set up a 4.25 billion euro fund to provide a backstop to risky cash calls and buy bad loans off banks.

Also read: ECB sets Banco Popular's 2017 capital level at 7.875 percent

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