Download or read book The Italian Banking System written by Stefano Cosma and published by Springer. This book was released on 2012-11-13 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why was the Italian Banking System more resilient during the sub-prime crisis and harder-hit in the sovereign crisis? Will their strength in the retail market result as an asset or a liability for Italian banks in the future? This book offers an in-depth analysis of one of the most important EU banking systems its attempts to weather the crisis.
Download or read book Banking Crises in Italy written by Giuseppe Boccuzzi and published by Springer Nature. This book was released on 2022-08-26 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers the first original study on banking crises management in Italy from 2014 to 2020 with a comprehensive overview of the resolution tools used. In Italy, the issue of banking crises is now the focus of attention, not only as a result of the cycle of crises that occurred in the years 2014-2020 but also because of the banking reform carried out in Europe with the directives on bank recovery and resolution and the implementation of the Single Resolution Mechanism and the Single Resolution Fund within the framework of the Banking Union. The Italian banking crises have been managed by applying the new European regulatory framework; in this sense they constitute a significant test to assess its effectiveness and coherence. This book, divided into two parts, makes an initial assessment of the crisis situations and the application of the new rules, and offers an initial evaluation of their functioning. In the first part, an in-depth examination is made of the various cases of crisis, following a methodology of classification by type of solution and instruments adopted. The second part is dedicated to lessons learned and open issues. In detail, the most sensitive issues of the current debate are addressed, relating to the improvement of the institutional set-up and the rules for crisis management, the harmonization of insolvency rules in Europe, the funding of resolution, public intervention and, finally, the role of deposit guarantee systems. An articulated and complex picture emerges with various areas for improvement and policy indications, offering a framework that will be of interest to scholars, researchers, professors, students and practitioners of banking and banking regulation.
Download or read book Italian Banking and Financial Law Crisis Management Procedures Sanctions Alternative Dispute Resolution Systems and Tax Rules written by D. Siclari and published by Springer. This book was released on 2016-01-12 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Within an environment made difficult by the continuing economic crisis, the Italian model for crisis management and resolution has helped to avoid many difficulties faced by intermediaries across the globe. However, the Italian model for crisis management will be forced to adapt to the new EU Bank Recovery and Resolution Directive, which introduces a unified regime for such events in all EU countries. This book explores the various methods for crisis management employed in Italian finance. The authors discuss procedures used in the banking and insurance sectors, such as deposit guarantee schemes and alternative dispute resolution systems. They also explore the evolution of the administrative sanctioning systems, and the roles of tax rules and credit rating agencies in Italian finance. This book analyses the evolution of the various crisis management processes, and discusses potential goals and improvements within the context of recent measures suggested by the European Commission.
Download or read book Geofinance between Political and Financial Geographies written by Silvia Grandi and published by Edward Elgar Publishing. This book was released on 2019-12-27 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited collection explores the boundaries between political and financial geographies, focusing on the linkages between the changing strategies, policies and institutions of the state. It also investigates banks and other financial institutions affected by both state policies and a globalizing financial system, and the financial resources available to firms as well as households. In so doing, the book highlights how an empirical focus on the semi-periphery of the financial system may generate new perspectives on the entanglement between (geo) politics and finance.
Download or read book Italy written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2013-12-06 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note elaborates the recommendations made in the Financial Sector Assessment Program (FSAP) for Italy in the areas of contingency planning, crisis management, and bank resolution. The note sets out a brief overview of the impact of the global financial crisis in Italy and how the authorities handled the crisis. It analyzes the institutional framework and domestic and cross-border coordination arrangements. The supervisory approach to intervene with potential problem banks at an early stage is examined. The note also covers crisis management tools, including official financial support measures, the resolution framework, and the deposit guarantee framework.
Download or read book Italy written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2013-12-06 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note elaborates the recommendations made in the Financial Sector Assessment Program for Italy in the areas of contingency planning, crisis management, and bank resolution. The note sets out a brief overview of the impact of the global financial crisis in Italy and how the authorities handled the crisis. It analyzes the institutional framework and domestic and cross-border coordination arrangements. The supervisory approach to intervene with potential problem banks at an early stage is examined. The note also covers crisis management tools, including official financial support measures, the resolution framework, and the deposit guarantee framework.
Download or read book Financial Crisis Management and Democracy written by Bettina De Souza Guilherme and published by Springer Nature. This book was released on 2020-12-09 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book discusses financial crisis management and policy in Europe and Latin America, with a special focus on equity and democracy. Based on a three-year research project by the Jean Monnet Network, this volume takes an interdisciplinary, comparative approach, analyzing both the role and impact of the EU and regional organizations in Latin America on crisis management as well as the consequences of crisis on the process of European integration and on Latin America’s regionalism. The book begins with a theoretical introduction, exploring the effects of the paradigm change on economic policies in Europe and in Latin America and analyzing key systemic aspects of the unsustainability of the present economic system explaining the global crises and their interconnections. The following chapters are divided into sections. The second section explores aspects of regional governance and how the economic and financial crises were managed on a macro level in Europe and Latin America. The third and fourth sections use case studies to drill down to the impact of the crises at the national and regional levels, including the emergence of political polarization and rise in populism in both areas. The last section presents proposals for reform, including the transition from finance capitalism to a sustainable real capitalism in both regions and at the inter-regional level of EU-LAC relations.The volume concludes with an epilogue on financial crises, regionalism, and domestic adjustment by Loukas Tsoukalis, President of the Hellenic Foundation for European and Foreign Policy (ELIAMEP). Written by an international network of academics, practitioners and policy advisors, this volume will be of interest to researchers and students interested in macroeconomics, comparative regionalism, democracy, and financial crisis management as well as politicians, policy advisors, and members of national and regional organizations in the EU and Latin America.
Download or read book The Italian Banking System During the 1907 Financial Crisis and the Role of the Bank of Italy written by Francesco Vercelli and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Banking Crises and Systemic Crises written by Francesco Capriglione and published by . This book was released on 2020 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent events found in the occasion of banking crises make the urgent acknowledgement of the need to implement integration and/or modification to the current procedural forms for credit supervision. Indeed, the analysis of the limits of credit supervision urges to a “change of pace” that has to lead to the introduction of crucial changes in supervisory action.Within a social-economic context marked by complexity, research must be oriented towards the identification of the factors that allow the starting of a process that leads to an innovative redefinition of the organizational models of reference. The intention to clarify the actual delimitation of the operational areas currently granted to the national supervisory authority firstly implies that the national supervisory authority will in future avoid proposing a «self-referential» approach, a modus operandi which certainly prevents the objective of ensuring a «fair and prudent management» of the sector in a manner appropriate to its institutional duties. The difficult way of clarifying and simplifying the evaluation processes that are necessary to ascertain possible banking crises must be subordinate to a preventive action of the policy.Considering these events, politics, scholars and policymakers should ask about the possible “drift” which must be avoided. What to do? To accept the present without forgetting the past, from which to draw adequate lessons for the start of a new path that aims to achieve a balanced composition between the cur-rent instability of the system. Perhaps this is the correct methodological approach that can help Italy get out of the difficulties with which, unfortunately, it is currently struggling!
Download or read book The Crisis of Liberal Italy written by Douglas J. Forsyth and published by Cambridge University Press. This book was released on 2002-06-06 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this major interpretation of the crisis of democracy in Italy after World War I, Douglas Forsyth uses unpublished documents in Italy's central state archives, as well as private papers, diplomatic and bank archives in Italy, France, Britain and the United States, to analyse monetary and financial policy in Italy from the outbreak of war until the march on Rome. The study focuses on real and perceived conflicts and often painful choices between great power politics, economic growth, macroeconomic stabilisation and the preservation or strengthening of democratic consensus. The key issue explored is why governments in Italy after World War I, although headed by left-liberal reformers, were unable to press ahead with the democratic reformism which had characterised the so-called 'Giolittian era', 1901-1914. Their failure paved the way for parliamentary deadlock and Mussolini's seizure of power.
Download or read book Financial Innovation and Resilience written by Lilia Costabile and published by Springer. This book was released on 2018-09-28 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: As Ignazio Visco, Governor of the Bank of Italy, says in his Foreword, all economic policy makers today need to re-examine our history to help them confront the challenges of today. This edited volume focuses specifically on the theme of financial innovation and how financial resiliency was achieved in Naples. To highlight both the achievements of the public banks of Naples and their lessons for financial resiliency, the book focuses on financial crises and how they were overcome in Naples in contrast to other European financial systems. The first section focuses on the development of the public banks unique to Naples. The second section compares those with other banking systems and how they responded to the same shock in 1622, caused by the full mobilization of European belligerents to finance their efforts in the Thirty Years War. The next section compares lessons learned in the rest of Europe over the next century and a half. The final section comes back to original start of the narrative arc to suggest ways that today’s policymakers and thinkers could use the historical experience of the public banks of Naples to deal better with the ongoing problems stemming from the financial crisis of 2007-08.
Download or read book Italy written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2020-03-20 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Financial System Stability Assessment paper on Italy highlights that substantial progress has been made in recent years in strengthening the financial sector, however, important weaknesses remain. Bank capitalization and asset quality have improved considerably but are still below the European Union average and the financial sector has large exposures to the Italian sovereign. The financial sector faces important vulnerabilities and a challenging baseline outlook. The sector is highly dependent on the European Central Bank’s Targeted Longer-Term Refinancing Operations. Profitability is also still low, particularly in segments of small and mid-sized banks. This reflects in part weak economic growth in Italy over the past decade, as well as high structural operating costs, unsustainable business models and corporate governance weaknesses. Solvency stress tests indicate that many banks with material aggregate total asset share continue to be vulnerable to an adverse scenario. Efforts should focus on further enhancing banks’ capitalization, operational efficiency, governance, and business models. Specifically, the authorities should consider more escalated corrective measures for weak banks, utilizing the full gamut of their toolkit, to ensure that banking sector weaknesses do not linger, and costs are contained.
Download or read book Review Essay written by Ivo Maes and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gianni Toniolo was one of Italy's, and Europe's, foremost economic historians. Unfortunately, he suddenly passed away in November 2022, a few weeks after he had presented in Rome his newest book, the first volume of his history of the Bank of Italy, Storia della Banca d'Italia. Tomo I. Formazione ed evoluzione di una banca centrale, 1893-1943 (History of the Bank of Italy. Part I. Formation and evolution of a central bank, 1893-1943). Toniolo's history of the Bank of Italy illustrates very well many issues which are at the heart of the literature on central banking. What emerges very well is the gradual transformation of the Bank of Italy, from an emission bank to a central bank, with a growing public character of the Bank. The early relationship between the Bank of Italy and the commercial banks was often one of business rivalry and competition. Through time, the Bank of Italy gained the monopoly of the emission of banknotes but had to stop its commercial activities, while being entrusted with responsibilities in the supervision of the commercial banks. Toniolo's book covers a turbulent period in Italian monetary history, with several banking crises. Monetary policy was dominated by the issue of the reconciliation of two contrasting objectives: the exchange rate of the lira and the stability of the banking system. A distinguishing feature of the Italian experience of central banking is how the development of the Bank of Italy was embedded in the process of nation-building. In other countries, where the nation-state was established before the central bank, this was very much a process of extending the network of branches. In Italy, where the process of unification was later, it implied the merger of emission banks, a much more delicate political issue.
Download or read book Crisis and Reform The 1893 Demise of Banca Romana written by Mr.Marco Pani and published by International Monetary Fund. This book was released on 2017-12-14 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: More than a century later, the Banca Romana crisis still provides useful insights on the challenges of preserving financial stability. This paper reviews the case and discusses implications that can be relevant today. The crisis was spurred by an unsustainable credit expansion encouraged by capital inflows, which provoked an asset price bubble and other imbalances. A system of corruption and collusion with politicians and journalists enabled the bank managers to run risky and illegal operations – effectively, asset-stripping – undetected and unhindered. As a result, it would not have been easy for an observer not endowed with investigative powers to detect the mounting risks, while the government, which had these powers, failed to take action when needed and concealed critical information from the public. When the crisis erupted, its resolution was facilitated by a previous, decade-long debate on the reform of the banking system which had led to the exploration and development of possible solutions that could then be rapidly implemented.
Download or read book After the Crisis written by Ms.Silvia Sgherri and published by International Monetary Fund. This book was released on 2010-11-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Italy’s deep-rooted structural problems resulted in an unsatisfactory productivity performance and a dismal growth over the last 15 years. The global financial crisis has exacerbated these long-standing weaknesses, taking a heavy toll on Italy’s economy. With output back to its end-2001 level, Italy’s output losses associated with the crisis have been, thus far, about 132 billion of 2000 euro (around 10 percent of precrisis 1998 - 2004 real GDP). About three quarters of these losses are estimated to be due to a shortfall in potential output. Potential output is not expected to rebound to its precrisis trend over the medium term, even though growth is projected to do so within the next two years. In the short-run, the decline in output is mainly accounted for by a collapse in productivity; in the medium term, employment and capital are also likely to be affected, with implications for the longer-term growth and fiscal outlook.
Download or read book A Strategy for Developing a Market for Nonperforming Loans in Italy written by Nadège Jassaud and published by International Monetary Fund. This book was released on 2015-02-06 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Addressing the buildup of nonperforming loans (NPLs) in Italy since the global financial crisis will remain a challenge for some time and be important for supporting a sustained, robust economic recovery. The buildup reflects both the prolonged recession as well as structural factors that have held back NPL write-offs by banks. The paper discusses the impediments to NPL resolution in Italy and a strategy for fostering a market for restructuring distressed assets that could support corporate and financial restructuring.
Download or read book The Bank Crisis in Italy written by Piero Sraffa and published by . This book was released on 1922 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
