FILE PHOTO: A man walks in front of the Monte dei Paschi bank in Siena, central Italy, January 29, 2016.
Italy’s Treasury and Bank of America declined to comment, while Orrick was not immediately available.
Rome is expected to pay about 150,000 euros in financial and legal fees, with the lion’s share going to Bank of America, the sources said.
Rome has set aside 1.5 billion euros to shore up MPS but the bank faces a shortfall of at least 2 billion, sources have said.
In the case of MPS, that entails a 3 billion euro earnings boost, sources have said.
Max Rossi, Giorgio Cocini, Patrizio Messina, Marco Nicolini, Orrick, Jean Pierre Mustier, ”
Treasury, of America, REUTERS, Bank, America’s, Bank of America, UBI Banca, MPS, Banco
MILAN, dei, Siena, Italy, Tuscany, Rome