Italy Banks Lose $82 Billion of Cheap Financing From Savers

``Italian savers ditched 75 billion euros ($82 billion) of bank bonds in the year ended September, further depriving lenders of a cheap source of funding... Savers are shunning bank bonds as losses at four small lenders in November have made more people aware that the investments are risky. The cash drain has contributed to a slump in prices for junior bonds, as lenders turn to more expensive wholesale financing and contend with tighter European Union rules on state aid. ''