Time is running out for the third biggest Italian lender after it warned Wednesday that it would run out of cash at a faster pace than previously forecast, if there wasn't fresh money coming in quickly.
Monte dei Paschi had previously said that its 10.6 billion euro ($11.5 billion) liquidity position could last for 11 months. However, it said Wednesday that this would happen in four months' time.
The oldest bank in the world has been struggling for a long time, but its situation has deteriorated since political instability increased in Italy at the start of December. Shares were suspended on Wednesday afternoon after falling more than 10 percent.
The bank has been looking to raise capital in three ways: debt-to-equity swap, stock offering and disposal of soured loans.