Oaktree's Banca Progetto Falls Under Bank of Italy's Administration

In a surprising twist, Banca Progetto, the Italian bank backed by Oaktree Capital Management, has come under the administration of the Bank of Italy. This decision, announced in a recent statement, follows challenges faced by the institution in maintaining financial stability amid a tough economic landscape. As a result, the regulator aims to stabilize the bank's operations and protect depositors' interests while reassessing the bank's future business model.

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