Author Archives: admin@montecillollc

Italian Bank NPLs: Montecillo July 2016 News Digest

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The recapitalization of Atlante 1 or the creation of an Atlante 2 fund solely for NPLs remains a hot topic, and Premier Matteo Renzi continues to express hope in “market-based solutions”. The problem is that funding will require moral suasion from the Government as the big banks, Intesa and Unicredit won’t commit further resources to […]


Italian Bank NPLs: Montecillo June 2016 News Digest

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The gripping saga of Italy’s NPLs proceeds apace, firstly with Unicredit’s alleged offer to put 1,5Bn Euros into rescuing Banca Popolare di Vicenza. Although Ghizzoni, the CEO and an old hand at Unicredit, claims the offer wasn’t binding, the Board appears to have taken exception to hearing about this commitment only when the Atlante fund […]


The Deloitte Italian NPL Outlook

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Click here: The Deloitte Italian NPL Outlook  


Italian Bank NPLs: Montecillo March 2016 News Digest

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The ECB has not only required capital increases from Banca Popolare di Vicenza and Veneto Banca, but is also imposing strict deadlines. Vicenza’s is now, and Veneto’s capital increase is set for June. The hurried meetings of banks called by Padoan’s team during February have given birth to atlante, a privately funded vehicle pooling resources […]


Italian Bank NPLs: Montecillo February 2016 News Digest

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After a year lost as we all awaited the result of Italy and Brussels arguing about what did and did not constitute state aid, everybody has now figured out the limited impact of the Treasury guarantee, and estimates are getting bigger of how much recapitalization the Italian banks are going to need. After Barclays’ initial […]