Italy amends laws on capital gains to ease sovereign debt pressure
In a move to safeguard capital ratios, the Bank of Italy on Tuesday said it will allow lenders holding European government bonds in their available-for-sale portfolio no longer have to take into account possible capital gains or losses on them.
The move, the central bank said, comes after "unforseen volatility on European government bonds" created "unwanted strains" in Italian bond markets and essentially suspends mark-to-market rules on sovereign debt. Despite initial calm in markets after the
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