Paolo Baffi was an intellectual deeply absorbed by the problems of his time: the great depression, the war, reconstruction, monetary stability. He took care of these problems by acquiring both theoretical tools and a thorough knowledge of statistics.With a key role in the Bank of Italy’s...

After the crisis, it is necessary to promote in organizations a compliance cuIture in order to guide management behaviours. But also the choice of the supervision style by the Banking Union will be crucial in order to properly and effectively orient the relations between supervisors and...

This paper aims to stress the importance of market liquidity for the stability of the financial system, emphasizing the pivotal role played by liquidity risk in the development of the current financial crisis, pointing out the flaws of regulation and supervision and stressing the need for their...

The solutions of the financial crisis in Europe must necessarily involve the support to banks by governments and the coordinated action among supervisory authorities. But an important role can be played by a stronger cooperation between a small number of European countries who have common...

In Italy the use of bond covenants is restrained by the predominance of SMEs, the significant role of relationship banking, the high costs related to public placements, the lack of investors‘ financial culture, the low amount of loans normally requested by each firm and the lack of liquidity...

The financial crisis shows the limits of a fragmented surveillance scheme and points out the need of new architectures characterized by simplicity, applicability of rules, lower costs of compliance, lower conflicts of interests, absence of regulatory arbitrage and universality. For this purpose,...

To celebrate the 150th anniversary of Italian Unification and to contribute to the debate under way on the national history, ABI has launched a research project to analyze the linkages between the society, the economy and the action of Italian banks. The research has been published by Bancaria...

The Italian economic culture over the last 150 years has considered banks not merely as financial intermediaries, but as a key factor of economic development in which, thanks to their professional reliability, they have given a fundamental contribution to real growth