UBI Banca is taking steps to ensure its core capital level remains above the new capital requirement, in line with the upcoming European Central Bank's (ECB) capital adequacy rules. At a meeting scheduled for Sept 9, the bank will put forward a plan to limit the amount of money that can be paid to shareholders who will oppose its conversion into a joint-stock company and will ask to cash out. This move is in line with the Italian's government's financial reforms, which is encouraging its banks to convert into joint-stock companies, in the hopes of encouraging a wave of mergers.
UBI Banca is taking steps to ensure its core capital level remains above the new capital requirement, in line with the upcoming European Central Bank's (ECB) capital adequacy rules. At a meeting scheduled for 10th October, the bank will put forward a plan to limit the amount of money that can be paid to shareholders who will oppose its conversion into a joint-stock company and will ask to cash out. This move is in line with the Italian's government's financial reforms, which is encouraging its banks to convert into joint-stock companies, in the hopes of encouraging a wave of mergers.