The evolution of retail payments, stimulated by the new European regulation, by competition and innovation, leads banks to increase the attention on payments business. Payments profitability, at the national level and in an analysis of the two largest banking groups, represents an important 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...

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...

In times of extraordinary financial markets tensions, the Ecb can make use of unconventional monetary policy that are by definition exceptional and temporary in nature. These measures aim to preserve credit flows to the euro area economy and to introduce new liquidity management instruments

European Parliament, Council and Commission reached an agreement to undertake a review of the Eu budget, in order to redefine the general guidelines and priorities and enable the European Union to implement effective actions in long term decision

The development of a long lasting relationship between banks and firms requires greater cooperation between the two parties, which must be based on transparency, availability of the right quantitative and qualitative information, the correct and complete use of these information by banks, in...