BNP Paribas Securities Services has been selected to provide securities lending services to Fondoposte, the National Supplementary Pension Fund for the employees of Poste Italiane SpA.

BNP Paribas Securities Services will provide Fondoposte with securities lending services covering approximately EUR 2.3 billion of assets.

This new mandate extends the commercial relationship between the two companies. BNP Paribas Securities Services has been providing depositary banking services to Fondoposte since 2016.

Vittorino Metta, General Manager of Fondoposte, commented: "After a thorough evaluation process, we selected BNP Paribas' securities lending services with a view to maximize value for our participants. Our securities lending programme will be activated in accordance with Covip's guidelines and will only include bonds."

Antonio Nardacci, President of Fondoposte, added: "Proceeds from the securities lending programme will allow Fondoposte to cover part of the costs associated with monitoring the financial management of the pension fund thus alleviating costs for our members especially in this particular moment of uncertainty."

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BNP Paribas Securities Services has been selected to provide securities lending services to Fondoposte, the National Supplementary Pension Fund for the employees of Poste Italiane SpA.

BNP Paribas Securities Services will provide Fondoposte with securities lending services covering approximately EUR 2.3 billion of assets.

This new mandate extends the commercial relationship between the two companies. BNP Paribas Securities Services has been providing depositary banking services to Fondoposte since 2016.

Vittorino Metta, General Manager of Fondoposte, commented: "After a thorough evaluation process, we selected BNP Paribas' securities lending services with a view to maximize value for our participants. Our securities lending programme will be activated in accordance with Covip's guidelines and will only include bonds."

Antonio Nardacci, President of Fondoposte, added: "Proceeds from the securities lending programme will allow Fondoposte to cover part of the costs associated with monitoring the financial management of the pension fund thus alleviating costs for our members especially in this particular moment of uncertainty."