Liquidity in Italy’s Carige steady following Blackrock pulls outside Of rescue – sourcesReuters #Of_RescueMay 10, 2019
MILAN/ROME, May 10 (Reuters) – Troubled Italian bank has suffered no deposit outflows following a decision by U.S. fund BlackRock to pull out of a rescue bid for the lender, two sources close to the bank said on Friday.
One of the sources said the bank held 3.5 billion euros in assets it could use as collateral to borrow from the European Central Bank, up from 2.7 billion euros in January.
Bank branches were operating normally, the source added.
BlackRock said on Thursday it had decided to ditch a proposed rescue bid for Carige, leaving the Italian government scrambling to avoid state bailout.
(Reporting by Andrea Mandala and Stefano Bernabei, writing by Silvia Aloisi, editing by Valentina Za)