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Monte dei Paschi says ECB asking for 14.3 percent core capital level 

January 9, 2015

Silvia Aloisi and Stefano Bernabei, Reuters

The European Central Bank (ECB) has asked Monte dei Paschi di Siena (BMPS.MI) to raise its core capital level to 14.3 percent as it sets new, tougher requirements for riskier lenders to bolster their financial strength.

The Tuscan lender, which emerged as the weakest bank in a Europe-wide health check of the sector last year, said the ECB request was preliminary and subject to changes, adding it was reviewing the proposal and would reply on Jan. 16.

Its shares were down 4.4 percent by 1205 GMT.

The ECB's 14.3 percent Common Equity Tier 1 or core capital requirement compares with a level of 12.8 percent the bank had at the end of September 2014.

Read More: Reuters 
 
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