Reuters: Regulatory News: Italian banks rally on delay to new bank capital rules

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Italian banks rally on delay to new bank capital rules Jan 7th 2013, 08:13 MILAN | Mon Jan 7, 2013 3:13am EST MILAN Jan 7 (Reuters) - Italian listed banks rallied at the open on Monday on news that global regulators had given lenders four more years and greater flexibility to build cash buffers, a move that should allow banks to inject more money into Italy's battered economy. Italy's biggest bank UniCredit was up 3.4 percent at 0707 GMT with peer IntesaSanpaolo up 2.8 percent. Struggling Banca Monte dei Paschi di Siena was suspended limit up after jumping 6 percent in early trading. "The fact that regulators eased the liquidity cover ratio is very positive for banks in general. They will have more liquidity to play with," said Alberto Gallo, an analyst with Royal Bank of Scotland. "I expect the rally to continue."

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