The financial crisis has highlighted the issue of compensation of managing directors. In Italy, the Central Bank has taken action to avoid banks’ crises in deep contrast with the high level of managers’ compensations. With specific rules the Bank of Italy has granted to the shareholders’...

A correct response of banks adapting and reinforcing their internal controls systems is an absolute condition for the development of such systems and to ensure a real contribution to improve bank performance. Otherwise, the alternative is only the decline.

Bank profitability is not easily observable and measurable, except in the long term and ex post. But bank management, especially after the crisis, must be monitored also in the short term, and therefore profitability requires indicators for a continuous and proactive measurement. Beyond the most...

The effects of the crisis and the consequent economic policies have accelerated the actions of large European banks to reduce operating and labour costs, in particular concerning the branch network, back-office and other nonproductive processes. In this context, remuneration policies are...

This paper analyzes the determinants of credit to medium-sized enterprises before and during the crisis in Italy. While the bank-enterprise relationship seems to be crucial in the granting of credit before the crisis of 2007, during the crisis the results show a greater virtuosity of firms...

The Great Depression and the present crisis are united by the need for large banks, to address issues of liquidity, profitability and capital adequacy and radically change their business model. Two collections of Comit internal documents of the Thirties offer interesting teachings: the...

During the critical stage of the financial crisis - between June 2008 and December 2009 - the credit policies of Italian banks were characterized by a wide range of different behaviours and performances, not only due to bank size. An analysis of a large sample of Italian banks, representing 85%...

The financial crisis has stopped the process of globalization, producing an opposite effect in various banking systems.The new trend is toward a reduction in cross-border activities of banks and an increased focus on domestic markets.

The financial crisis has shown significant shortcomings in the supervision and in the internal control systems of financial intermediaries, not adequate to ensure an efficient risk management. It is therefore essential for financial institutions to promote a consistent risk culture and...

Some unpleasant characteristics of the financial reality over the last few years are examined. First, financial growth was largely based on products that are not exchanged on organized markets, but rather over-the-counter. Moreover, they are often opaque and illiquid, and lack symmetric...