Bank of Italy
Visco questions sufficiency of five presidents’ report
Italian governor stresses progress ‘on the side of the political union’ should be considered sooner rather than later; broadly supports direction of roadmap
Low rates from QE poses risks to some pension and insurance firms in eurozone, Visco warns
Pension funds and insurance companies in some eurozone countries may need to adjust their practices to limit the risks arising from asset purchases, Italian governor says
Italian NPL legislation should shorten bankruptcy proceedings, paper says
Legislation recently passed by the Italian parliament should shorten bankruptcy proceedings and may stimulate a private market for Italy’s non-performing loans, a Bank of Italy paper argues
No clear evidence for always using trend inflation in models, paper says
Adding positive steady-state inflation to new Keynesian DSGE models improves analysis of high-inflation periods but otherwise does not significantly alter results, paper argues
Eurosystem’s asset purchase programme should increase growth by 1% annually, paper says
The Eurosystem’s asset purchase programme could increase growth and inflation by 1% annually for two years, a working paper from the Bank of Italy predicts
Italian paper explores wage and unemployment relationship
Occasional paper stresses the choice of measures for the change in wage rates has ‘important consequences for the results’
Bank of Italy sees credit conditions improving
Economic bulletin notes the ability of banks to borrow cheap funds from the ECB is helping improve conditions, but stock of NPLs is still holding back lending growth
Rossi calls on supervisors to ‘build a real single house’
Senior deputy governor at the Bank of Italy stresses the importance of harmonising supervisory practices across the eurozone to ‘exploit the potential’ of the SSM
IMF research looks to jumpstart market for Italian NPLs
Nadège Jassaud and Kenneth Kang discuss their strategy for fostering a market for non-performing loans with Central Banking, stressing the need for ‘decisive action’
Italian paper: Reforms could lead to earlier exit from ZLB
Working paper examines the impact of competition-friendly reforms in the service sector across the eurozone, finding it could help boost inflation providing investment responds
Saccomanni sees political not analytical constraints to policy cooperation
Former Bank of Italy deputy says analytical framework for international monetary policy cooperation already exists, but G-20 countries are being held back by politics
Visco highlights ‘inadequate’ stock of human capital in Italy
Bank of Italy governor calls for better education and training to help develop the ‘right skills and capabilities’ necessary for the country to achieve higher growth
People: Fritz Zurbrügg appointed as SNB vice-chair; Vanoli gets nod from Argentine senate
SNB reshuffles board, with Zurbrügg assuming vice-chair after Danthine retires; Luis Linde replaces Ignacio Visco at the steering committee of the European Systemic Risk Board
Visco calls for ‘block disposal’ of impaired assets
Bank of Italy governor laments growing stock of NPLs in country’s banking system; calls for ‘active management and recovery procedures’ to address it
Monte dei Paschi’s shares plummet in wake of ECB results
Shares in Italy’s third-largest bank drop by 20% as the market reacts to stress-test results; MPS claims it was ‘penalised’ by methodology
Visco echoes Draghi with call for more private investment
Bank of Italy’s governor argues the main challenge in the legacy of the great recession is ‘posed by the developments in the real economy’
Banks must ‘rediscover' relationships with companies, Italian deputy says
Salvatore Rossi says better understanding of companies by banks would complement capital market intermediation as ‘only banks can acquire direct knowledge of firms'
ECB appoints supervisory heavyweights to new review board
Governing council appoints five members to board, tasked with conducting reviews into ECB’s supervisory actions, including former central bankers from France, Germany, Italy and Spain
The challenges for central banks
Demands are being made for central banks to consider financial stability alongside price stability, as a key component of their monetary policy. But that is nothing new for central banks
Italy's Visco calls for more 'symmetric' monetary policy
Central banks should be prepared to tighten policy pre-emptively, Ignazio Visco writes in forthcoming Central Banking journal, in order to head off financial crisis
Bank of Italy wary of emerging market risk
Italy’s central bank reports improving financial conditions in the eurozone, but remains wary of low inflation and emerging market slowdown
Reserve managers ‘obsessed' with short-term results, says Passacantando
Former Bank of Italy managing director says central bank reserve managers should take a longer-term view with their investment decisions
Italian paper finds difficulties in risk weighting sovereign debt
Researchers at the Bank of Italy warn that applying higher risk weights to sovereign debt could be detrimental to banks’ funding conditions
Visco calls for ‘rapid’ SRM agreement
Bank of Italy governor Ignazio Visco urges the European Parliament and Council for the EU to find a common ground on the SRM; argues for single resolution fund to be fast-tracked