ECB Says Paschi Needs $9.2 Billion, More Than Bank’s Plan

The European Central Bank said Banca Monte dei Paschi di Siena SpA needs about 8.8 billion euros to bolster its balance sheet, almost twice the amount the Italian lender had sought to raise in a failed capital increase. The calculation is based on the results of a 2016 stress test, the Italian bank said in a statement late Monday, citing two letters from the ECB.