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The European Central Bank does not approve the capital conservation plan presented by Carige on June 22 and asks the institute to submit a new plan approved by the board of directors "to restore and sustaining compliance with capital requirements in a sustainable manner by December 31. This plan should evaluate all options, including a business combination. "None of the risk-reduction measures" have been implemented. was implemented in the initial period and the updated capital conservation plan postponed the planned implementation of a quarter, "complains the ECB.
" If a solution to a consolidation of companies is implemented to ensure sustainable compliance with all capital requirements – that is the position of the central bank – the ECB will set a new deadline by which it will have to comply with the capital requirements to reflect the needs of this business combination transaction. "
In the ECB's decision, it is also established that the bank convenes a shareholders' meeting with a view to appointing a new chairman of the Board of Directors by September 30, 2018.
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The bank reported that the ECB expressed concern for the latest developments at a time when "strong leadership is particularly important in overcoming differences and providing board support for necessary policy decisions". Carige, for his part, says that during the first half of the year, he started the way, on the one hand, from the issuance of capital instruments category 2 (subordinated bonds) and, on the other hand, the sale of non-strategic badets ".
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