Italy: Financial System Stability Assessment, including reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Payment Systems, Insurance, Securities Regulation, Securities Settlement and Payment Systems, Monet

Financial System Stability Assessment, including reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Payment Systems, Insurance, Securities Regulation, Securities Settlement and Payment Systems, Monetary and Financial Policy Transparency, and Anti-Money Laundering and Combating the Financing of Terrorism

Volume/Issue: Volume 2006 Issue 112
Publication date: March 2006
ISBN: 9781451819984
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Topics covered in this book

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Banks and Banking , Public Finance , ISCR , CR , central bank , banking sector , return on equity , financial system , due diligence , board of directors , risk management , banking law , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Legal support in revenue administration , Insurance companies , Insurance , Terrorism financing , Europe

Summary

This paper discusses key findings of the Financial System Stability Assessment for Italy. The assessment reveals that Italy’s financial system is sound, and no major vulnerabilities that could cause systemic risks are identified. The deep restructuring of the banking sector in the 1990s has helped improve the efficiency and competition of the Italian banking industry. Most standard performance indicators are now broadly in line with those of other large European countries. Competition in the Italian banking sector has not yet been fully reflected in the pricing and quality of core services.