MILAN (Reuters) – 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 ($997 million)to the unlisted cooperative bank, in the latest state bailout of an ailing lender.
($1 = 0.9024 euros)
(Reporting by Giulio Piovaccari; Editing by Himani Sarkar)