Italian Police Detain Capital From Large Banks

According to Bloomberg, Italian finance police seized assets from Bank of America Corp., Deutsche Bank AG, UBS AG, Natixis SA, Dexia Crediop SpA and Banca Monte Paschi di Siena SpA as part of a fraud probe. BAC, DB, UBS, KN, DEXB, BMPS The police seized a sum of 22 million Euros, with BAC getting over 68% of the total detained from the group of banks. Allegedly the banks are under probing activity because of miss selling of derivatives to municipalities, according to police.