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.
- 29 December 2020 - Notes on financial stability and supervision No. 23 - Bad loan recovery rates in 2019
- 24 December 2020 - Bank of Italy and Japan Financial Services Agency sign a Memorandum of cooperation (MoC). The Bank of Italy and the Japan Financial Services Agency on 23 December 2020 signed a Memorandum of cooperation (MoC) in the field of supervision of cross-border financial institutions.
15 December 2020 - Communication addressed to UK intermediaries ahead of the end of the transition period. The Bank of Italy has published a communication recalling the effects of the end of the transition period provided for in the Withdrawal Agreement on 31 December 2020 and asking UK banking and financial intermediaries operating in Italy to provide customers.
- 20 November 2020 - Financial Stability Report No. 2 - 2020. The Italian economy displayed a considerable capacity to recover in the summer, but the risks to financial stability owing to the macroeconomic situation have increased since the resurgence of the COVID-19 pandemic. This situation is affecting the outlook for growth, which will depend on the effectiveness and decisiveness of economic policy interventions.
- 6 August 2020 - Notes on financial stability and supervision No. 22 - The FDIC bank crisis management experience: lessons for the EU Banking Union
- 8 July 2020 - Notes on financial stability and supervision No. 21 - The Bank of Italy's systemic risk dashboard for the Italian financial system: a technical note on the aggregation of risk indicators