Moody's: Bank rescue fund in Italy will be credit positive for weaker banks, but no systemic fix

London, 15 April 2016 -- A new rescue fund for banks in Italy -- with equity of about EUR6 billion -- will be credit positive for the weaker smaller and mid-sized banks, says Moody's Investors Service in a report published today. However, the rescue fund could put pressure on healthier banks. The Fund (Atlante), announced on April 11 by the Italian government, will provide equity to distressed banks and buy junior notes of securitised bad loans that banks may issue as part of Italy's bad bank framework. Equity for the Fund will be provided by a number of Italian banks, insurers and investors.

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