The European Central Bank (ECB) has appointed on Wednesday three temporary administrators, as well as a three-member oversight committee, to take over Banca Carige and replace its board of directors, after the resignation of the majority of the members of the advice of the Italian entity.
In this way, the institution has appointed Fabio Innocenzi, Pietro Modiano and Raffaele Lener as temporary administrators of Banca Carige. In addition, the ECB also appointed Gianluca Brancadoro, Andrea Guaccero and Alessandro Zanotti as members of the Banca Carige surveillance committee.
The resignation of most of Banca Carige's board made it necessary to appoint a temporary administration to manage the bank in order to stabilize its management and seek effective solutions to guarantee sustainable stability and compliance, the central bank said in a statement.
"The decision to impose a temporary administration is a measure of early intervention aimed at guaranteeing continuity and pursuing the objectives of a strategic plan," the central bank said, stressing that the appointment of the temporary administration "results in the removal of the management and control bodies of Banca Carige ".
Temporary administrators are tasked with preserving the stability of a bank by closely monitoring their situation and continuously informing the ECB and, if necessary, taking measures to ensure that the bank restores compliance with capital requirements in a sustainable manner.