In this paper we analyze the reliability of Euribor after the beginning of the financialcrisis. We purpose three theories about the incentives by banks to manipulatethis benchmark rate to gain illegal profits: trading, portfolio and reputationaltheory. According to us, the main problem that...

The Italian banking system emerged almost unscathed from the global financialcrisis of 2007-2008 due to its limited exposure to complex structured securities. Itwas subsequently weakened by the sovereign debt crisis and two economic recessionsthat have so far had two main effects: the loss of...

This paper analyses the performance of the international insurance industry during the financial crisis and examines the importance of insurance to systemic financial market stability, emphasizing the need for correct assessment of the characteristics of insurance companies, such as their...

This paper aims to conduct a first overview of the debate under way as regards the role of the authorities and the policy toolbox for management and resolution of banking crises. In particular, this paper reviews some paradigmatic cases where weaknesses of the national legal and regulatory...

Policy makers and public opinion are very interested in forthcoming modifications to the institutional architecture of the European banking supervision. However, the improvements to this institutional architecture do not cover the whole area of the interventions put in action to face the...

In the EU, following the crisis, there have been a coordination of government support policy to banks and, in general, some flexibility in the application of rules governing state aid. In Italy the intervention has been implemented by some peculiarities. In fact, the Italian Economy and Finance...

The paper gives a thorough analysis of both the emergency State aid legislation to the banking sector recently enacted by the EC Commission and the bail out plans that some member States - namely UK, France, Spain, Germany and Italy - designed to rescue their ailing credit institutions. Scope of...

This paper, based on financial statement data from about 500 Italian banks in theperiod between 2006 and 2010, analyses the loans to customers development in Italy by bank size. The research focuses on its evolution over time and on the quality of creditexposures. The aim is to assess the...

This paper intends to show that the origin and development of the current crisis is entirely consistent with Hyman Minsky analysis. The substantial inadequacy of the regulatory framework in controlling the massive innovation processes involving the financial sector in the last twenty years is...

The capital adequacy of financial intermediaries is one of the key issues dramatically raised by the financial crisis. Review of the regulation in this field is underway and aims to reinforce the Basel 2 regime. This introduction presents the contributions in this section, which critically...