At that time, even as the bank was digesting the Antonveneta purchase, the liquidity situation of MPS worsened due to tensions in sovereign-debt markets, the central-bank document says.

WSJ: Bank of Italy Says It Tightly Supervised MPS

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According to the Bank of Italy document, the central bank began to question MPS's capital solidity when it first had to evaluate whether to give its green light to the Antonveneta acquisition in 2008.

WSJ: Bank of Italy Says It Tightly Supervised MPS

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