Italian banks consider conditions for Carige rescue unacceptable

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Depositor guarantee fund FITD in Italy considers the conditions to join a rescue plan for unhealthy Carige unacceptable. Italian cooperative bank Cassa Centrale Banca (CCB) set the conditions to rescue Carige, the bank in Genoa. CCB planned to reduce the total size of its investment in Carige. Discussions about rescue plan are still ongoing. A CCB meeting is scheduled on Wednesday. FITD distinguished almost $1 bn to rescue Carige via the conversion of over 300 million euros of a bond into shares.  

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