# Is there a run on Italian Banks?



## Aussie Mockingbird (Jul 14, 2016)

Hi Everyone Living in Italy,

I am an Italian expat originally from Rome. I am now working in Australia for the past 12 years. . I have been hearing some worrying news about bank runs. Are they really happening in Italy? Are people concerned about their money and panicking? Please let me know. Thanks.


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## HKG3 (Jan 11, 2015)

Aussie Mockingbird said:


> Hi Everyone Living in Italy,
> 
> I am an Italian expat originally from Rome. I am now working in Australia for the past 12 years. . I have been hearing some worrying news about bank runs. Are they really happening in Italy? Are people concerned about their money and panicking? Please let me know. Thanks.


You do not need to worry. There is an EU deposit protection scheme so any savings up to 10,000 Euros are protected against bank failures.

https://en.wikipedia.org/wiki/Fondo_Interbancario_di_Tutela_dei_Depositi


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## GeordieBorn (Jul 15, 2016)

HKG3 is correct with the information, but there is a missing zero as it is €100,000. There has been a number of articles in the British press of late regarding the trouble with the Italian banking system, have a look on the BBC web site for a few.


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## ilario (Jun 30, 2016)

In my case there is not a run!


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## HKG3 (Jan 11, 2015)

GeordieBorn said:


> HKG3 is correct with the information, but there is a missing zero as it is €100,000. There has been a number of articles in the British press of late regarding the trouble with the Italian banking system, have a look on the BBC web site for a few.


Sorry about the typo - it does make a big difference!


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## GeordieBorn (Jul 15, 2016)

There is an article on the BBC website today headed "Testing times for Europe's banks" quoting 


> Italy's third largest bank (and the world's oldest) Banca Monte dei Paschi di Siena, is a particular concern and is already trying to raise new capital


 . 
The results of this Europe wide “stress test” in due out today, perhaps this is the reason for the rumour rumbles going on here in Italy?


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## HKG3 (Jan 11, 2015)

GeordieBorn said:


> There is an article on the BBC website today headed "Testing times for Europe's banks" quoting
> .
> The results of this Europe wide “stress test” in due out today, perhaps this is the reason for the rumour rumbles going on here in Italy?


The EBA's stress test results according to the BBC - 

RBS performs poorly in stress tests - BBC News

RBS did not perform well in this stress test, however, one needs to remember that the UK government owns 70% of RBS.


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