UPDATE 3-Monte Paschi faces near $1 bln loss on 'surprise' trades
January 24, 2013 at 09:39 AM EST
By Stephen Jewkes and Silvia Aloisi. MILAN, Jan 24- Banca Monte dei Paschi di Siena, Italy's third biggest bank, could face losses of as much as 720 million euros on past trades in financial derivatives which management says it only recently discovered.