Spread, the Italian shield: those 500 billion BTPs in the coffers of banks and insurance companies

MILANO – From the budgets of major Italian banking and insurance groupsa mountain of BTPs worth almost 230 billion euros stands in defense of the public debt, which rises up to 550 billion taking into account the smaller credit institutions. Looking at it from the illuminated side, it is a defense against the turbulence that government bonds could face depending on the outcome of the vote on 25 September.