BancaEtruria

In November 2015, Banca Etruria was placed under compulsory administrative liquidation. Its performing assets were transferred to a bridge entity, Nuova Banca Etruria, which was sold to UBI Banca for €1 in 2017. UBI Banca merged with Intesa Sanpaolo in 2020, integrating the former Banca Etruria branches and client accounts into Italy's largest banking group.

Under EU bail-in rules, subordinated bondholders were completely wiped out. Many were retail customers who had been sold the bank's own bonds without adequate risk disclosure. The Italian government later established a hardship fund to partially compensate vulnerable bondholders, though the process remained politically contentious through 2018.

Atlante, a private-sector rescue fund backed by Italian banks and insurers, participated in the recapitalization of the bridge entity and purchased non-performing loans. It was designed to absorb losses that would otherwise have fallen on senior creditors and depositors, though Banca Etruria's resolution was largely carried out through the industry-funded resolution fund rather than Atlante alone.

The original legal entity remains in liquidation, managed by court-appointed commissioners. Its sole function is to pursue litigation, sell residual assets, and manage claims from creditors and former shareholders. The performing banking franchise is now part of Intesa Sanpaolo, with no distinct branding or separate operation.

The Banca Etruria case established legal and regulatory precedents around retail bail-in, bank resolution governance, and the treatment of non-performing loan portfolios in Europe. Credit funds and distressed debt investors continue to reference the case when structuring NPL acquisitions from Italian banks. Its legacy influences how EU authorities design resolution frameworks.