Central Bank: Unicredit and Intesa not covered bond yield (sources) – Corriere della Sera

19:05 MILAN (Dow Jones) – E ‘party of today, the plan for the purchase of covered bonds by the European Central Bank which the Eurotower aims to revive the economy and that, according to rumors, should cover short-term securities French and Spanish. The program is likely, however, ‘to disappoint, with institutions that may not be willing to sell as much as the ECB would like to purchase. And ‘this is the case, at least for the moment, Unicredit and Intesa Sanpaolo, the two major Italian banks by market capitalization. As learned from MF-Dow Jones in fact, the bank led by Federico Ghizzoni not seem interested, at least for the moment, to sell covered bonds to the ECB, but would prefer to postpone postpone any debate on this issue to deal with more ‘calm, eventually, in 2015 Even the Ca ‘de Sass, in this first day of bidding, responded to the sirens Eurotower. Also ’cause, according to what has been learned from MF-Dow Jones, the ECB in recent weeks has probed the ground between the banks of the various countries of the Eurozone, obtaining that should be especially Spain and France sold bonds in Brussels. And certain ‘that the success of the program of purchases of the ECB depends on how the Eurotower will be’ aggressive pricing and quantity ‘in particular at this early stage. How the central bank will succeed ‘to purchase will depend on’ then also the condition of the primary market. Following on the success of the first Tltro anything but exciting, the markets could ill digest another operation subdued by the Institute in Frankfurt. alb / ofb (end) AFX NEWS 2019 04 Oct 2014