Closure of Alexandria trade would cost Monte Paschi 1 billion euros

SIENA (Reuters) - The European Central Bank has told Monte dei Paschi di Siena to close a loss-making derivatives trade with Nomura by late July, a move that would generate a pre-tax loss of 1 billion euros ($1.06 billion), according to a letter sent by the bank to prosecutors.

from Reuters: Business News http://ift.tt/1aZb4af