banks
Milan , January 27, 2016 – 21:35
ROME ” The case is open, but in the light of interventions since then makes it desirable by the legislature both Italian and European careful review of how and when “of the new rules on bank bailouts. While the Minister of Economy, Pier Carlo Padoan, after the agreement with the EU announced a short time for the decree that will facilitate the disposal of bank loans poorer, and returns to reaffirm the strength of the Italian banking system, the Bank of Italy It calls for a rethink of the rules that led to the “resolution” of Banca Marche, Banca Etruria, and CariFerrara CariChieti, with zero shares and subordinated bonds.
system
The review would be desirable, “especially when the weaknesses of the banking system have systemic nature and result from exceptional events,” said yesterday the deputy general manager, Fabio Panetta, speaking at a seminar in Milan Equita Sim. He himself, he always reminded yesterday, Parliament had called on the “bail-in”, ie the resolution of banks, “a last resort, a hypothesis can, but remote hopefully” just a few days before the decree on the four banks . Beyond the correction of when and how the bail-in, the rules on banking crises, such as the strengthening of their capital requirements, Panetta said, “will make banks less risky, giving them more capital,” but at the same time it “compress the profitability and growth, with negative effects on the availability of loans to the real economy.” In context, says moreover the exponent of Bank of Italy, “the persistent economic weakness” in the EU.
The decree
The Treasury, who in recent days had already opened the opportunity to correct the resolution policies, while working on the decree to facilitate the disinvestment of bad debts, and back to support the resilience of the system. Yesterday in the House the minister Pier Carlo Padoan assured short time for the measure, and no guarantee that will not weigh on public finances. The agreement with the EU provides that the State grants a guarantee fee on the sale of loans to “bad bank”, specially created company. A form of insurance that will be more expensive over the course of time, to encourage a more rapid cleaning of bilanci.Le rules on “bad bank” would see the light next week, and merge into a single measure together with the reform of banks co-operative credit and speeding the recovery of debts that should have been examined today by the government. Markets, however, do not seem entirely convinced of the measures under consideration and the Milan Stock Exchange yesterday reacted badly.
Sales
So much so that the Treasury stepped in with a note defining “largely unwarranted” the sell-off that hit the headlines of the listed banks. The “suffering is not the only criterion for assessing the risk” of a bank or a system. Institutions of other EU countries, says the MEF, “are much more exposed to emerging countries” and “derivatives”. The coverage rate of doubtful loans in Italy is over 40% and higher than the EU average, and the same indices of leverage “place our banks at an advantage” over other euro zone added the Treasury. Instead, there is quiet on the public accounts. Padoan called them under control “in the short, medium and long term,” assuring the House that the debt will come down with a growth of lower or higher rates. From the fight against tax evasion, meanwhile, announced a new record. In 2015 it will be exceeded 14.2 billion collected last year.
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27 January 2016 (modified January 27, 2016 | 21:35)
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