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MontePaschi puts derivative losses at $987 million

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MILAN (AP) — Embattled Italian bank Monte dei Paschi di Siena put the losses from three derivative trades that were concealed for years at €730 million ($987 million), and assured investors on Thursday that they should not mount. "There are no more Santorinis," CEO Fabrizio Viola told a conference call, referring to the nickname of one of the trades. Viola said two of the transactions were...

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