Despite some recent signs of stabilization, the 2012-2014 ABI Financial Outlook Report highlights that the global economic situation remains fragile. Domestically, Gdp will further decline in 2013 and it is expected to return to a very slow growth only in 2014. Bank’s profitability continues...

The relationship between economic activity and the banking sector has always been one of the central themes in both the academic and practitioners debates. In this work we present a methodological tool of macro stress tests, focused on Italy. We estimate an autoregressive model (Var) to assess...

This paper explores the ability of a class of two-sector dynamic general equilibrium models to generate equilibrium time series for Money Laundering (Ml), through numerical simulations.The paper adopts this approach for the Italian, Us and the Eu-15 economies.The simulations show that Ml...

The credibility of prudential metrics as proxies for risk, i.e. the backbone of the Basel capital framework, is often called into question. From a regulatory side, ongoing works aim at strengthening the risk-sensitivity of capital requirements but, at the same time, banks’ autonomy is often...

Supervisory fragmentation is a cause of systemic risk, as cooperation amongst national authorities is bound to fail in crisis events. The situation will be different under the Banking Union when the Single Supervisory Mechanism is in place even if it shows some weaknesses: the Ssm includes...

The major Italian banking groups have adopted over the past 5 years the figure of the Chief Risk Officer, with an Area that includes the functions of Risk Management and Compliance. The solutions adopted meet the requirements set out in the regulation for the prudential supervision of banks: the...

The Social Disclosure (Sd), in general, expressed through corporate social reporting can sometimes be reflected only in a series of fulfillment. In this perspective, the research aims to verify, with reference to Cooperative Credit Banks (Bcc) in Italy, if the intensity of Sd is actually...

Turbulence and global economy’s fragility are increasing the propagation of stresses and traumas in interconnected systems. The Too-big-Too-Fail concept, however, is now becoming less significant and a new idea – Too-Complex-To- Survive – is gaining popularity. Since excessive complexity...

The goal of this paper is to analyze the role that non-financial variables can play in assessing Smes creditworthiness and to compare their value in predicting business failure with the one of the most commonly used financial ratios. We investigate the importance for banks in modeling credit...

After the downgrading by Moody’s of the rating assigned to Italy, can credit guarantees Consortia continue to be risk mitigators tools? The UniCredit group experience has led to an internal rating specific to Mutual associations, which allows the bank to identify on an objective basis the...