UniCredit shares fall on report of potential increase in ECB capital requirements
By Scott Kanowsky
Investing.com -- Shares in UniCredit SpA (BIT: CRDI ) dipped towards the bottom of the pan-European Stoxx 600 on Friday, erasing earlier gains, on a news report that the Italian bank may face higher capital requirements in 2023.
Citing sources familiar with the matter, Bloomberg News reported that the European Central Bank has indicated to UniCredit that it is mulling possibly raising its so-called Pillar II requirement, which is currently set at 1.75%. The ECB is keen to solidify the lender's resilience against potential risks from the war in Ukraine and a broader economic downturn, the report said.
UniCredit and the ECB have both declined to comment, according to Reuters.
The Bloomberg report added that the ECB has not notified UniCredit formally about the possible new capital requirements. The central bank's annual risk review is also reportedly set to be completed as soon as next week, it said.
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