Italy
Italian deputy warns of political pressure on central banks
Salvatore Rossi says central banks’ increasing responsibility for financial stability makes them a ‘perfect target’ for both lobbyists and politicians
IMF warns Italian financial sector is ‘not out of danger'
Assessment finds Italian financial sector to have shown ‘remarkable' resilience, but slender profit margins and worsening loan quality have led to ‘pockets of vulnerability'
Opinion: The ECB should not hold back from eurozone bond purchases
There is no danger in the ECB buying large amounts of eurozone government bonds to bolster market confidence – so long as the right conditions are met – says Natixis chief economist Patrick Artus
ECB paper says monetary transmission ‘far stronger’ in some eurozone countries than others
Interest rate changes have greater impact on bank lending in Germany and Italy than in countries with fewer commercial banks such as Spain and France
Bank of Italy paper finds women directors improve bank governance
Researchers find that women on bank boards tend to reduce the riskiness of investments, which they say is potentially both an argument for greater gender balance and a factor behind discrimination
Italians back using gold reserves to lower funding costs
A survey commissioned by the World Gold Council finds that Italians would support the creation of gold-backed bonds; sovereign bond yields fall further as new government is formed
People: Bank of Italy's Saccomanni becomes Italian finance minister; Kuroda replaced at ADB
Director-general at Italian central bank gets top government role; Takehiko Nakao moves from Japanese finance ministry to head Asian Development Bank
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
ECB reveals Italian dominance of emergency securities purchases
Data on purchases of individual countries’ bonds under the Securities Markets Programme released for first time; annual accounts show half of €1.1 billion bond profits came from Greece
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’
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
The ghost at the IMF’s Tokyo feast
Robert Pringle looks back at the main themes of the IMF’s annual meeting, which was held in October in Tokyo, and forward to prospects for 2013
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
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
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