EBA says new derivative rules to prevent new Monte Paschi cases

Published January 31, 2013

| Reuters

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)

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