Make Kitco Your Homepage

Italy to approve new bad loan guarantee scheme by Tuesday: source

Kitco News

ROME (Reuters) - The Italian government will approve a decree to renew a state-backed bad loan guarantee scheme some time between the weekend and Tuesday, a source close to the matter said on Wednesday.

The new scheme, which will have a duration of two years, will cost more than the previous one did due to current market conditions, the two sources said.

It will cover bad loans and not unlikely-to-pay loans, one of the the sources said.

Reporting by Stefano Bernabei and Giuseppe Fonte, writing by Stephen Jewkes

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.