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.
- 05 August 2019 - Notes on financial stability and supervision No. 15 - Towards a framework for orderly liquidation of banks in the EU.
- 27 March 2019 - The Bank of Italy has published instructions for banking and financial intermediaries in the event of a no-deal Brexit. Decree Law 22/2019, approved by the Italian Government on 20 March 2019, was published in the Gazzetta Ufficiale on 25 March 2019.
- 8 March 2019 - Information on Brexit. In view of the United Kingdom's expected withdrawal from the European Union, the Bank of Italy has set up a webpage providing information on Brexit for the public and for financial intermediaries.
- 1 March 2019 - Carmelo Barbagallo speaks on 'Crises and financial regulation: current and future developments'. Carmelo Barbagallo, Head of the Directorate General for Financial Supervision and Regulation of the Bank of Italy spoke on 'Crises and financial regulation: current and future developments' at the conference titled 'A decade of financial regulation in the wake of the crisis; how Italian banks responded to the challenges posed by the economy'.
- 27 February 2019 - Salvatore Rossi speaks at the round table on Financial Education Salvatore Rossi, Senior Deputy Governor of the Bank of Italy and President of the Insurance Supervisory Authority (IVASS), spoke at the round table on 'Financial education for Italy's development, information, the protection of savings, sustainability and culture'.
- 13 February 2019 - Corporate finance in Italy: recent developments and future prospects. Speech by Ignazio Visco. Governor Ignazio Visco spoke on 'Corporate finance in Italy: recent developments and future prospects', at the conference on "The Italian Corporate Bond Market: What's Happening to the Capital Structure of Italian Non-Financial Companies?'
- 8 February 2019 - FinTech: the role of the supervisory authority in a changing market. Speech by Carmelo Barbagallo, Head of the Directorate General for Financial Supervision and Regulation of the Bank of Italy