italian banks reassuring we are hardly exposed
Last Updated : GMT 12:43:41
Arab Today, arab today
Arab Today, arab today

Italian banks reassuring, we are hardly exposed

Arab Today, arab today

Arab Today, arab today Italian banks reassuring, we are hardly exposed

Rome - ANSA

As governments and central banks prepare to face the consequences of Greece\'s potential exit from the eurozone, Italian bankers are trying to reassure savers, claiming that Italian banks are not particularly exposed on the Greek market. The exposure of Italian banks towards Greece \"is not significant\", said the president of the Italian Banking Agency (ABI), Giuseppe Mussari. The chief executive of Unicredit, Federico Ghizzoni, meanwhile, has said that \"the Italian banking sector is among the most immunized\" if Greece exits the eurozone. Italian banks \"effectively have no exposure towards Greece,\" Ghizzoni added. \"It is more a question of volatility on the markets, which has a direct impact\". But the Unicredit boss added that institutes are nevertheless bracing themselves because \"the market expects everyone to reason in this way\". In this context, the deputy Finance Minister, Vittorio Grilli, said that \"we must always be ready for all outcomes\", adding that the financial and monetary markets have an \"awareness of the risks and problems\" involved at the moment. The latest figures by the Bank for International Settlements (BIS) show that at the end of 2011, Italian banks had exposure (both direct and indirect) of around 3.2 billion euros, a fall on the previous quarter, and a share of under 2 billion euros held by insurance firms. The figure is some way from their counterparts in France (39 billion), Germany (13 billion) and the UK (17 billion). Intesa SanPaolo had previously attempted to devalue its exposure (consisting of government bonds, Hellenic Railway shares guaranteed by the state and credits) in 2011 and, at March 31, after the partial swap of old shares against new ones issued by Athens, the nominal value stood at 445 million euros, with 93 million recorded on the budget. Unicredit\'s overall exposure at the end of March had a budget value of 54 million euros (28 million of which among the financial activities held for negotiation and those assessed at fair value). Positions on credit derivatives, the bank has said, are essentially balanced. Generali\'s exposure has now been reduced, after a series of changes and agreements on a swap, to a level of 243 million euros. The exposure of Fonsai, Banco Popolare, Mediobanca and MPS is even lower or almost non-existent. But while the banks appear to be safe, the insurance sector in Italy, but also in Spain, is more exposed to the impact of a Greek exit from the eurozone, according to the ratings agency Fitch, which has hinted that the contagion effect could have an impact on Italian and Spanish shares and on banks as well as having an effect on their ratings. The German and British insurance sectors, meanwhile, appear more covered. (ANSAmed).

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

italian banks reassuring we are hardly exposed italian banks reassuring we are hardly exposed

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

italian banks reassuring we are hardly exposed italian banks reassuring we are hardly exposed

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Presenter Sherine Ramahi proud of her career

GMT 06:46 2017 Sunday ,19 November

Presenter Sherine Ramahi proud of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday