MODENA, Italy (Reuters) - An inspection by the European Central Bank of Monte dei Paschi di Siena's (MI:BMPS) loan portfolio that had been due to conclude at the end of last year is still under way, a top official at the Bank of Italy told Reuters on Saturday.
The central bank's deputy director general, Fabio Panetta, was speaking on the sidelines of a financial conference in Modena.
Monte dei Paschi, which needs to plug a capital shortfall of 8.8 billion euros (£7.5 billion), is set to be nationalised after it failed to raise money from private investors last month. The government will likely inject 6.6 billion euros in the bank, taking a 70 percent stake.
The bank has said the results of the inspection, which began last May, will be released in the first half of 2017.