The IMF estimated last year that Italian households own around €200 billion of senior bonds. This pool is being targeted by professional investors, looking for new strategies across the country's banking sector. This strategy is based on a view that the Italian government remains eager to avoid imposing losses on retail investors, according to the Financial Times. That is, political sensitivities are rendering certain banks' bondholders potentially insulated from losses, despite European rules designed to avoid taxpayer bailouts. The Federal Reserve told big banks they have more than enough capital, and they promptly announced a windfall for shareholders -  that is how Bloomberg summed up the results of the Fed's latest round of stress tests. According to Bloomberg, JPMorgan Chase & Co, Citigroup Inc and Bank of America Corp led US firms in unveiling plans to boost dividends and stock buybacks beyond analysts' projections, after every lender passed the Fed's annual tests for the first time since the reviews began in the wake of the 2008 financial crisis. Of the 34 big banks - including local operations of global banks such as Deutsche and Santander - Capital One Financial Corp was the lone bank to stumble through the exam, garnering conditional approval to make payouts while it fixes "material weaknesses" in planning. Diebold Nixdorf has launched in the UK and Ireland after meeting the requirements set down by UK Competition and Markets Authority that it divest itself of all customer owned ATM operations. This followed the ongoing merger between Diebold, Incorporated and Wincor Nixdorf AG. The company has agreed to sell its legacy Diebold business in Britain to Cennox Group, based in Surrey, in a deal that's expected to close today (June 30). Under the sale agreement, all staff from the legacy Diebold operation serving UK customers, totalling 67 employees, will become part of Cennox. Financial terms were not disclosed.