The Bank of Italy said Friday that the cost to rescue failing lender Banca Monte dei Paschi di Siena will likely hit a 8.8 billion , a figure that falls largely in line with European Central Bank estimates. BMPS will need around a 4.6 billion to shore up the bank’s capital base and repair its common tier 1 equity ratio, the Bank of Italy said in a statement, and a further a 2 billion to cover retail investors, putting the cost for Italian taxpayers at a 6.6 billion.