ROME
“The Italian banking system is not in a systemic crisis situation and is not a source of vulnerability for other banking systems.” Spoke yesterday at the Chamber for information on Italian credit and Monte dei Paschi in particular, Economy Minister Pier Carlo Padoan strongly rejects the idea that there is a general “problem banks” in Italian, and that from here can be born a contagion to other countries.
the line is still out on Tuesday by Prime Minister Renzi, when he reiterated that “Italian banks are not the problem of Europe”, and in the reasoning proposed by the holder of Deputies’ economy is enhanced by numbers. “Objective technical data, ‘says Mr. Padoan to challenge the idea that this is” improvised enthusiasm. “
The first disclosure numbers are those released last week by the EBA stress test: the” adverse scenario “, with a collapse of the Italian GDP by 5.9% in the three years accompanied by a surge in spreads but not from banks countermeasures, the key coefficient on capitalization (the CET1) would drop by 4 points in the five Italian big, from ’11, from 7 to 7.7%, and with a similar trend to the average decline of 3.9% assumed for the institutions of the countries subjected to the single European supervisory authority. Excluding Siena, the Italian decline, however, it would stop at 3%. The increases in recent years have also brought the quality capital to reach 12.3% of risk assets, 5.2 points above the levels of 2007, while in the first three months of the emergence of new non-performing loans has traveled to the lowest rates recorded since 2008. numbers like these show according to the minister the “resilience” of the system, that is, its ability to withstand shock and react.
In the reconstruction of Padoan, in a context so it outlined the amount of impaired loans is reabsorbed “to facilitate the resumption of credit to households and businesses,” but is not “in itself a threat to financial stability ». Another couple of digits used to support the thesis: the nominal value of the NPL was around 18% of bank assets, but in light of the adjustments already made by lenders drops to 10.8%, and the minister ensures that “both indicators are falling.”
Sull ” exception ‘of Siena, also hit by EBA methodology deemed “particularly penalizing,” Padoan reaffirms the confidence of the government in the plane through the maxi -cessione of suffering to the Fund Atlas and the contribution of the public guarantee on the senior tranche to get to a revival of the Rocca Salimbeni performance.
This information does not then escape to the analysis of the causes that have led so far banks and depositors. Padoan identifies three: “Failure to remove structural obstacles ‘, which in the guarded language of the holder of Economy refers to system reforms’ expectations for twenty years”, but realized only in the last phase, “the mismanagement of some banks “and” illegal practices of some managers. ” On this last point, Padoan says the government is “favorable to the actions of responsibility by the new administrative bodies,” objected vigorously on the point by the Movement 5 Stars. Forza Italy the leader Renato Brunetta accuses the imaginative ‘action and incompetent government, “because” the markets have always or almost always right, “and their variations say that” the plan is not credible. “
gianni.trovati@ilsole24ore.com
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