The ECB has distributed a document to euro zone central banks raising doubts about Bank of Italy chief Antonio Fazio's handling of a bank takeover, but it does not conclude he broke rules, central bank sources said.
'There is a five-page document which raises questions and doubts about the Bank of Italy's handling of the case, but it reaches no definitive conclusions,' an official from one euro zone central bank said. Two other central banking sources confirmed the existence of the document.
Italian daily Il Sole 24 Ore reported on Tuesday that a European Central Bank document had accused Fazio of breaking Italian and European Union rules in the bank takeover case, which has prompted calls for his resignation.
The Bank of Italy issued a statement the same day denying the ECB had reached any conclusions in the case and promising to give the ECB new information proving that it had acted properly.
Fazio has been widely accused of unfairly favouring Banca Popolare Italiana in its battle with Dutch lender ABN AMRO for control of Banca Antonveneta and is being probed by Rome prosecutors for abuse of office, though he has not been charged.
The ECB has not said whether it will eventually publish any statement on Fazio's handling of the case. It has no direct responsibility for bank supervision, which is under the remit of national central banks.
