Bank of Italy ready to account for Popolare di Bari supervision: Visco to press

Bank of Italy has 'positively' accomplished its supervision duties and...

FILE PHOTO: Bank of Italy Governor Ignazio Visco looks on during a meeting in Rome, Italy, October 31, 2017. REUTERS/Remo Casilli/File Photo

MILAN - Bank of Italy has “positively” accomplished its supervision duties and it is ready to account for its action on failing lender Banca Popolare di Bari, Governor Ignazio Visco told Corriere della Sera daily in an interview published on Monday. Prosecutors in the southern Italian town of Bari are investigating the former chairman of Popolare di Bari for alleged corruption in relation to the central bank’s supervisory activity over the failing local lender, a judicial source said on Sunday.

Earlier this month Rome approved an emergency decree granting a lifeline of up to 900 million euros to the unlisted cooperative bank, in the latest state bailout of an ailing lender.

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