Primary banking supervision in Italy lies with the Banca d'Italia, which acts as the national central bank and has been working closely with the ECB within the framework of the Single Supervisory Mechanism (SSM) since November 2014. It supervises banks and financial intermediaries, while CONSOB is responsible for stock exchange and securities supervision.
Key aspects of banking supervision in Italy:
-Responsibilities: The Banca d'Italia supervises banks and financial institutions to ensure stability and soundness.
-European integration: Supervision is part of the European system, with significant banks being supervised directly by the ECB and less significant ones by the Banca d'Italia.
Additional actors:
-CONSOB (Commissione Nazionale per le Società e la Borsa): Responsible for investor protection and monitoring transparency in the financial markets.
-CICR (Interministerial Committee for Credit and Savings): An interministerial committee for credit and savings.
Deposit protection: The Interbank Deposit Protection Fund (FITD) protects deposits up to €100,000.
Special measures: The supervisory authority intervenes in cases of risk, such as by imposing growth restrictions on banks deemed non-compliant.
The Bank of Italy also collaborates with international authorities to ensure financial market stability.
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