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.
- 17 July 2018 - ECB publishes SSM LSI SREP Methodology
On 4 July 2018 the ECB published its SSM LSI SREP Methodology to illustrate the main features of the methodology followed in the Supervisory Review and Evaluation Process (SREP) for less significant institutions (LSIs), which was developed jointly with the national competent authorities (NCAs) within the framework of the Single Supervisory Mechanism (SSM). The booklet is now also available on the Bank of Italy’s website.
- 10 July 2018 - Governor Ignazio Visco's remarks at the Annual Meeting of the Italian Banking Association (ABI) - 2018
The Governor of the Bank of Italy, Ignazio Visco, addressed the Annual Meeting of the Italian Banking Association (ABI) in Rome.
- 2 May 2018 - Two new channels for receiving reports of regulatory violations and misconduct in management on the part of supervised entities
The Bank of Italy has created two new online channels dedicated solely to receiving reports of possible regulatory violations or alleged management irregularities on the part of supervised entities.
- 16 April 2018 - Ignazio Visco - "Banks and Finance after the Crisis: Lessons and Challenges"
Speaking at the celebrations marking the thirtieth anniversary of the foundation of the Faculty of Economics in the University of Rome Tor Vergata, Governor Ignazio Visco today gave a guest lecture on 'Banks and Finance after the Crisis: Lessons and Challenges'.
- 9 April 2018 - New Note on Financial Stability and Supervision
No. 12 - Do high levels of NPLs impair banks' credit allocation?
The Bank of Italy released a Note on Financial Stability and Supervision regarding non-performing loans (NPLs).