MILAN: UniCredit, Italy's biggest bank in terms of assets, will issue loans to the tune of 1.33 billion euros and take overall pre-tax charges of some 300 million euros for its part in the rescue of four Italian banks, a banking source said on Monday.
Around 210 million euros ($223 million) of the 300 million euro "ordinary and extraordinary contribution" to the bank resolution fund will be booked in UniCredit's fourth quarter results, the source said.
Italy launched a new system on Sunday to undertake a 3.6 billion euro rescue of four small savings banks before stricter rules for winding down lenders take effect next year.
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