Supervision: what it is and how it works
The Bank of Italy supervises banks and non-banking intermediaries entered in specific registers. Since November 2014 this supervision has been conducted within the framework of the Single Supervisory Mechanism.
Supervisory activities are carried out by the Directorate General for Financial Supervision and Regulation at the Bank of Italy's Head Office in Rome and by its branch network.
In addition to on- and off-site inspections to verify compliance with the requirements for engaging in banking and financial activities, the Bank of Italy's supervisory action extends toactivities include the adoption of administrative measures. The most important measures involving banks are authorizations, sanctions, and those relating to the management of problematic situations.
As national supervisor, the Bank of Italy also provides services directly to the public: it handles complaints, runs the technical secretariats for the Banking and Financial Ombudsman, promotes financial education and publishes information on individuals or companies not authorized to carry out banking or financial activities in Italy and other more general notices and communications. It also conducts analyses on the banking and financial system.
The Bank of Italy reports on its supervisory procedures and informs the public of the most important banking and financial issues through a variety of forums and channels, including the Annual Report and the Report on Operations and Activities of the Bank of Italy.
The Bank of Italy's supervisory powers have their legal basis in a regulatory framework that encompasses international, European Union and national laws.
- 26 January 2019 - Fabio Panetta speaks on credit and development. Fabio Panetta, Deputy Governor of the Bank of Italy, spoke about 'Credit and development: constraints and opportunities for Italy's economy' at the national conference on credit for development organized in Bologna by the Unione Cristiana Imprenditori Dirigenti (U.C.I.D).
- 23 January 2019 - Testimony of Fabio Panetta for the conversion into law of Decree Law 1/2019.
- 19 December 2018 - Note on Financial Stability and Supervision No. 13 - Bad loan recovery rates in 2017. The Bank of Italy released one new Note on Financial Stability and Supervision (Note No. 13). This note updates to 2017 the estimated bad loan recovery rates already published for the period 2006-16. The data, together with some detailed breakdowns that are commented on but not reproduced in this text, are available in digital format. Moreover, for the first time the note illustrates the results of the Bank of Italy's surveys on NPL sales that began in 2016, whose findings are in line with what can be inferred from the Central Credit Register.
- 2 November 2018 - Results of the 2018 EU-wide stress test