Bank of Italy
Italian governor calls for greater understanding of Islamic finance
Ignazio Visco says ethical finance focuses on 'the link between financial transactions and underlying assets'
Italy’s Visco concerned by ‘blind backlash’ against financial firms
Bank of Italy governor issues reminder that finance does bring some benefits, but says pre-crisis ‘benign neglect’ by regulators was foolish
Italian credit guarantee scheme helps firms borrow cheaper for longer
Bank of Italy researchers provide empirical evidence for effectiveness of credit guarantee scheme, which helped firms without increasing debt volumes
Visco calls for powers to dismiss bank directors
Bank of Italy governor says the supervisory authority should have the power to remove senior management in banks from their posts
Bank of Italy gives green light to €3.9bn MPS bailout
Executive board approves disbursement of bailout funds to Monte dei Paschi di Siena, although the bank insists the situation is ‘completely under control’
CIC chair tells Davos central banks must ‘mop up' excess liquidity
Former member of PBoC's MPC says central banks have a responsibility to assuage inflation fears as economies return to growth; Bank of Italy governor says economic recovery is not central bank's job
Bank of Italy steps in to investigate ‘hidden' derivatives deals
Central bank to investigate Monte dei Paschi di Siena trades in collaboration with judicial authorities, as the Italian bank seeks €500 million in 'Monti bonds' to cover potential losses
IMF tightens rules on money laundering surveillance
New IMF policy document introduces mandatory reporting on money laundering where it represents a risk to financial stability; Vatican sanctioned over failures in money laundering safeguards
Bank of Italy cautious on sovereign bonds
Investors return to public debt markets, but progress is threatened by political uncertainty
Italy’s Visco promotes ‘deeper’ Europe
Bank of Italy governor says long-term solution to crisis is a more fully constructed Europe, although not all central bank tasks should be centralised
Dutch gold also unverified
Central banks with second, third and ninth largest gold holdings in the world admit to not physically verifying overseas gold; but some host central banks do not allow external auditors into vaults
Bundesbank reveals specific location details of gold holdings
New details of the Bundesbank’s foreign gold holdings released as Bank of Italy admits also not physically verifying gold held overseas despite having world’s third largest gold reserves
Italian paper evaluates stressed CDS pricing
Study by the Bank of Italy considers the performance of credit default swap pricing models under highly volatile conditions
Italian paper studies impact of euro break-up fears
Bank of Italy working paper investigates interest rate movements away from macroeconomic fundamentals; suggests euro break-up fears may be an influence
Bank of Italy ends twinning programme with Bank of Albania
Guidance project between Italian, French and Albanian central banks comes to an end; final results due in October 2012
Bank of Italy’s economic overview paints bleak picture
Italian statistics show worsening of main economic indicators in first quarter of 2012; however government bond yields below levels at end of 2011
Italian governor reviews uncertain outlook as Moody’s downgrades
Bank of Italy governor Ignazio Visco says banks have made progress in strengthening finances but warns of numerous downside risks; Moody’s downgrades Italy’s government bond rating
Bank of Italy’s Tarantola set to run state media company
Bank of Italy’s Anna Maria Tarantola nominated to head state media company RAI; no move yet to replace her on central bank’s governing board
Former Italian governor acquitted in market-rigging case
Antonio Fazio sees prison term for market-rigging regarding sale of Banca Nazionale del Lavoro in 2005 overturned; still facing jail in another case
Bank of Italy paper analyses impact of organised crime
Working paper estimates counterfactual economic performance in the absence of organised crime; finds mafia presence lowers Italian growth path
Italy’s Visco issues call to action for banks
Governor of the Bank of Italy says banks must not “starve” the economy of credit; explains now is the time to intensify efforts to strengthen balance sheets
Ignazio Visco’s battle to emerge as governor of the Bank of Italy
Ignazio Visco emerged as the new governor of the Bank of Italy after a lengthy battle few thought he would win. How did he pull it off? Isabella Bufacchi reports
ECB approves collateral eligibility criteria of seven Eurosystem central banks
European Central Bank leaves interest rates unchanged but confirms plans to relax collateral criteria for credit claims at seven Eurosystem central banks, including Banque de France
Italian banks may need state aid to hit 9% core capital, says Saccomanni
Bank of Italy director-general says country’s banks may require government assistance to meet stricter 9% core Tier I capital ratio; new deputy director Salvatore Rossi optimistic growth outlook