Monte Dei Paschi had previously asked the ECB on Wednesday for five more weeks to complete its 5 billion euro ($5.4 billion) rescue plan.
The oldest lender in the world has claimed that the ongoing political instability in Italy has not enabled it to raise the money it needs to finance its operations. A deal, that was expected to be concluded in December, may not be ready until a new government is in place.
Investors are waiting for clarity on whether the Italian President, Sergio Mattarella, will order a new technocratic government to take over or call for snap elections.
Mattarella began talks on Thursday with political leaders in a bid to find a way out of the current political crisis caused by voters rejecting constitutional reforms at the country's recent referendum and Prime Minister Matteo Renzi's resignation.