Banca Monte dei Paschi di Siena Receives Ruling on Potential Generali Stake Capital Exemption

MT Newswires · 2d ago
01:45 AM EST, 11/08/2026 (MT Newswires) -- The European Banking Authority clarified on Nov. 7 that Banca Monte dei Paschi di Siena (BMPS.MI) cannot automatically apply the "grandfathering" regime to its stake in Assicurazioni Generali (G.MI) just because its subsidiary, Mediobanca Banca di Credito Finanziario (MB.MI), qualifies on an individual basis. The grandfathering regime exempts banks from following stricter new regulatory capital laws for older investments. The Italian lender must independently qualify for the regulatory exemption at the consolidated level, the EBA added. Since Monte dei Paschi never applied the grandfathering regime, the EBA's decision does not impact its consolidated capital ratios.