Bank of Italy
Bank of Italy sets up joint cyber security organisation
New organisation in collaboration with Italian banking association; will provide “cyber emergency operating centre”
Route ahead unclear for Italian banks
At least one bank faces major loan book problems; European law may present difficulties with recapitalisation and “bad banks”
Unreported assets worth $6–7 trillion, Italian researchers say
“Areas of opacity” remain, despite recent anti-evasion initiatives, authors say; paper estimates the global levels of personal tax evasion and undeclared assets held overseas
Italian banks’ macro cycle “still weak” – Bank of Italy report
Italian central bank publishes latest financial stability report
Bank of Italy publishes unconventional monetary policy papers
Papers and presentations cover models and data on unconventional programmes
Credit scoring improves borrower selection, Bank of Italy paper says
Paper presents a database on loans and the use of credit-scoring models; banks’ use of credit scoring reduces the likelihood of borrower defaulting, researchers say
Ignazio Visco on Italian banks and why the ECB should not be made a ‘scapegoat’ for EMU fatigue
The Bank of Italy governor speaks to Chris Jeffery about resolving Italy’s NPLs, Europe’s bail-in framework, the importance of QE and why the ECB needs to stop being made a ‘scapegoat’ for EMU fatigue
Visco hits out at lack of ‘cohesion’ among Europe’s political leaders
ECB governing council member calls for targeted structural reforms in the euro area; says a euro area finance minister must have fiscal capability and not be “another referee”
Last stand for central bank independence?
Political attacks on Janet Yellen and Mark Carney appear to be just the start of a sustained assault on central bank independence. It’s a battle the central bankers may lose
Obstacles may worsen for Russian and Turkish financial reformers, Italian paper says
Reforms in both countries left key problems unaddressed, researchers say
Bank of Italy issues latest economic bulletin
Non-performing loan ratios improving at five largest banking groups, central bank argues
Obituary: Carlo Azeglio Ciampi
Former Bank of Italy governor dies aged 95. The former partisan also held the roles of finance minister, prime minister and president
ECB’s QE policies have significant spillovers into CESEE economies, paper argues
Researchers examine effects on investment of quantitative easing by the European Central Bank
Wage Phillips curves in eurozone steepened after 2008 – paper
Germany was the exception among major eurozone economies, Bank of Italy paper argues
Paper presents new model of interbank loan market
“Novel” model should help policy-makers think through real-life scenarios, researchers say
Recessions nearly tripled amount of Italian NPLs, paper argues
Italian bad debt levels would be almost one third of their current levels without the sub-prime and sovereign debt crises, a counterfactual analysis argues
Unconventional monetary policy does not rob the poor, Italian researchers argue
Studying the effects of the ECB’s quantitative easing programme on the wealth and incomes of 8,000 Italian households shows that the policies benefit the poorest, Bank of Italy paper argues
Bank of Italy to receive €1bn for liquidating holding in equity firm
Italy’s central bank will gain about €1bn for liquidating its shareholding in an equity firm partly owned by the Italian state; holding began after the firm transferred stake in insurer
ESRB recommends EU states reciprocate Estonian capital buffer
European Systemic Risk Board’s recommendation is only second time it has suggested regulators should reciprocally adopt a new macro-prudential measure
Bank of Italy paper aims to improve on EC current account model
Research offers a new model of external adjustment; the EC’s model tends to mis-state cyclically adjusted current account balances of large eurozone economies, researchers argue
Chinese law doubts holding back RMB internationalisation – paper
A Bank of Italy occasional paper plots the development of renminbi trading in Europe; future development may be characterised by rapid advances followed by slower periods, authors say
Italian paper looks at effects of Basel leverage ratio on repo and refinancing
A move to higher leverage ratios by eurozone banks has not decreased their repo and refinancing activities, a Bank of Italy paper says
Bank of Italy sees Brexit having little impact on country
Commercial and financial links between Britain and Italy are much more limited than other European countries, argues the Bank of Italy in its latest economic bulletin
IMF staff propose additional reforms to Italian banking sector
Directors at the fund “commend” the Italian authorities for reforms so far, while staff suggest a range of additional measures to tackle issues around resolution and NPLs