Italy: Detailed Assessment of Compliance with the Basel Core Principles for Effective Banking Supervision

Author: International Monetary Fund

Volume/Issue: Volume 2004 Issue 133

Publication date: May 2004

ISBN: 9781451819823

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Topics covered in this book

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Banks and Banking , Finance , Public Finance , ISCR , CR , board of directors , holding company , country risk , senior management , business plan , financial condition , BI regulation , supervisory instruction , interest rate , banking system , capital base , BI branch , Basel Core Principles , Loans , Operational risk , External audit , Internal controls , Global

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Summary

This paper reviews findings of the Detailed Assessment of Italy’s Compliance with the Basel Core Principles for Effective Banking Supervision. The Italian banking system seems to exhibit a high degree of resilience to possible macroeconomic shocks, as supported by the evolution of some financial soundness indicators and by the results of various model simulations. Despite significant improvements over the last few years, the quality of banks’ loan portfolios remains moderate. Cost-cutting and restructuring remain key challenges for Italian banks, with several conjunctural factors putting pressures on costs and income.