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EBA says new derivative rules to prevent new Monte Paschi cases

The European Banking Authority chief Andrea Enria said the new rules on derivatives under completion will reduce the chances of a new financial scandal like that emerged at Tuscan lender Monte dei Paschi di Siena .

"With the new rules on derivatives we are finalizing it will be more difficult to see a case (like Monte dei Paschi)," Enria said on the sidelines of a banking conference in Milan.

"We have to avoid that this case (of Monte dei Paschi) lead to generalizations," Enria said, answering a question about the credibility of Italian banks.

(Reporting by Francesca Landini and Gianluca Semeraro; editing by Antonella Ciancio)