The European Central Bank has appointed temporary administrators and a surveillance committee to take charge of troubled Italian lender Banca Carige.
The decision came after the majority of board members of Banca Carige resigned today.
"The resignation of the majority of the board made the installation of temporary administration necessary to steer the bank in order to stabilise its governance and pursue effective solutions for ensuring sustainable stability and compliance," the ECB said.
The ECB appointed Fabio Innocenzi, Pietro Modiano and Raffaele Lener as temporary administrators of the bank.
It also appointed Gianluca Brancadoro, Andrea Guaccero and Alessandro Zanotti as members of the surveillance committee of Banca Carige.
The ECB said the decision to impose temporary administration is an early intervention measure aimed at ensuring continuity and pursuing the objectives of a strategic plan.
The ECB said the temporary administrators are tasked with safeguarding the stability of a bank by closely monitoring its situation, continuously informing the ECB and, if necessary, taking action to ensure that the bank restores compliance with capital requirements in a sustainable manner.
