Italian Premier Matteo Renzi is dismissing critics who contend his government showed partiality in saving four local banks, including one whose former vice president is the father of his reforms minister.

Renzi in an appearance Sunday in Florence said there was "no favoritism at all by the government" behind the measure to rescue the banks with a 4-billion-euro ($4.4 billion) fund established by three large, healthy Italian banks.

Finance Minister Pier Carlo Padoan met Sunday with a committee of investors on behalf of all those losing money — in many cases an entire life's savings — when they purchased bonds through one of the troubled banks. The committee says far more is needed to help them than the 100-million euro ($110 million) fund being considered in aid.