Bank of Italy selects 4 systemic risk countries for lenders, including Russia

MILAN (Reuters) -The Bank of Italy said on Friday it had selected the United States, Great Britain, Switzerland and Russia as countries outside the European Union that its banks have significant exposure to, under rules designed to govern systemic risks. The Bank of Italy used end-2024 data to measure banks' exposure to those countries in relation to their overall exposure. Top Italian lenders Intesa Sanpaolo and UniCredit are both present in Russia, the former serving only corporate clients while the latter owns a retail bank.