The establishment of the Consumer Financial Protection Bureau is part of the Us financial system reform project and has been strongly supported by the Obama administration to streamline the existing rules and to realize consumer financial education and protection after the crisis. It testifies,...

The National Fund for Innovation is a public policy instrument that is showing a significant capacity in supporting Italian Smes. It is also functional to stimulate the activation of virtuous circles in local economies, but with different effects in the various geographical areas. In particular,...

The recent changes to the Italian bankruptcy law aim to promote the use of restructuring agreements in corporate crisis management, in order to facilitate business continuity. However, the new procedure presents some operational difficulties that need to be clarified by the operating practices....

Banks capitalization has assumed greater importance after the new minimum capital standards required by Basel 3 and 2011 Eba Recommendations.This question could overshadow other important issues, such as those referred to the strategic models banks should adopt towards firms and individuals

In analyzing the options available to strengthen capitalization of Italian banks during the crisis, it is useful to build an evaluating system for cost/yield in different scenarios.The results of a simulation of so-called Tremonti bonds show that these are useful tools even if economic...

Ratings measure the counterparty risk for an issuer or an issue while Cds are a market evaluation of the same risk exposure. The market evaluation could be not aligned with the rating agencies’ judgment and the difference could be relevant. The article presents an empirical analysis on a...

In estimating the downturn Lgd, financial intermediaries have to select the economic cycle on which investigating the relationship between default rate and recovery rate. In order to obtain the validation, the methodological framework must be detailed, sustainable and applied to a statistically...

The legislative changes introduced in the Italian pre-insolvency law for corporate crisis management provide the opportunity to reconsider the question related to the bank’s responsibility in the case of restructuring agreements’ execution

The Italian corporate lending system is undergoing a legislative transformation, undoubtedly influenced by issues relating to debt restructuring plans. Banks are faced with different problems arising from loans to undercapitalized companies. Debt restructuring agreements are effective...

The conclusions of the Vickers Report, broadly accepted by the Uk government, put the country on the forefront of the reform movement affecting banking supervision. The traditional British light regulatory touch, this time, has given way to a decisive crackdown, mainly due to the effects of the...