Italy's Monte dei Paschi denies any ECB notice

AP News
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Posted: Dec 09, 2016 4:19 PM
Italy's Monte dei Paschi denies any ECB notice

FRANKFURT, Germany (AP) — Italy's Monte dei Paschi di Siena bank says it hasn't received any word from European regulators about its request for more time to raise new capital.

Shares in the troubled bank plunged Friday after news reports said the European Central Bank had rejected its request to delay until Jan. 20 the deadline for raising 5 billion euros ($5.4 billion) in capital.

In a statement late Friday after an emergency board meeting, the bank said it "hasn't received any communication" from the ECB about its request.

As a result, it said its activities continue and that a new board meeting would be held Sunday.