SIENA, Italy: Italy's Monte dei Paschi said there were no more derivatives losses beyond the 730 million euros ($988 million) it has disclosed, which have rattled financial markets and become a campaign issue ahead of parliamentary elections.
The derivative trades are at the heart of a fraud probe into former management of the world's oldest bank, raising doubts about the effectiveness of banking supervisors, including European Central Bank chief Mario Draghi, who was Bank of Italy governor from 2006 to 2011, and the role of politicians, who agreed a state bailout for the lender.