Which authority is recorded against Banca Popolare di Vicenza · Veneto Banca?

The entry is recorded against Banca d'Italia · European Central Bank · CONSOB, in the Italy jurisdiction, under the theme Share placement · investor disclosure.

What is the current status of this entry?

Status: Concluded — banks wound up. Last recorded change: 25 June 2017. The matter arose or was first recorded on 1 April 2015.

How was this matter brought to light?

Supervisory inspection. Each statement in the entry reflects material already published by a named source; nothing beyond those sources is asserted or inferred.

Where can the primary sources for IT-2017-01 be checked?

The entry links to Background record — Veneto Banca.

IT-2017-01 · Italy · 2017

Veneto banks: financed share placements and the 2017 wind-up

Two Veneto lenders were wound up under Italian insolvency procedures in June 2017 after supervisory reviews of capital raised through loans to the banks' own shareholders.

Italian bank building, illustrating the Veneto banks wind-up — Illustrative image · Banca Popolare di Vicenza · Veneto Banca

Institution: Banca Popolare di Vicenza · Veneto Banca
Authority: Banca d'Italia · European Central Bank · CONSOB
Status: Concluded — banks wound up
Theme: Share placement · investor disclosure
Raised by: Supervisory inspection
Jurisdiction: Italy
Matter arose: 1 April 2015
Last recorded: 25 June 2017
Amount: c. EUR 17bn state support authorised

What the sources record

Supervisory inspections identified shares placed with retail customers who had been lent the purchase price by the banks themselves.

Capital shortfalls identified by the European Central Bank could not be met from private sources.

Both banks were wound up in June 2017, with performing assets transferred to Intesa Sanpaolo and retail investors compensated in part through a state fund.

Timeline

2015-04-01
Supervisory inspection identifies financed share purchases.
2017-06-25
Italian authorities order the wind-up of both banks.

Primary sources

Background record — Veneto Banca

Questions and answers on this entry

What does register entry IT-2017-01 record?: Veneto banks: financed share placements and the 2017 wind-up. Two Veneto lenders were wound up under Italian insolvency procedures in June 2017 after supervisory reviews of capital raised through loans to the banks' own shareholders.
Which authority is recorded against Banca Popolare di Vicenza · Veneto Banca?: The entry is recorded against Banca d'Italia · European Central Bank · CONSOB, in the Italy jurisdiction, under the theme Share placement · investor disclosure.
What is the current status of this entry?: Status: Concluded — banks wound up. Last recorded change: 25 June 2017. The matter arose or was first recorded on 1 April 2015.
How was this matter brought to light?: Supervisory inspection. Each statement in the entry reflects material already published by a named source; nothing beyond those sources is asserted or inferred.
Where can the primary sources for IT-2017-01 be checked?: The entry links to Background record — Veneto Banca.

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