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 a number of services directly to the public. It receives requests for information and analyses reports on irregularities involving supervised intermediaries, 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 performs supervisory tasks also for the purpose of protecting customers of intermediaries.
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.
- 28 April 2023 - Financial Stability Report, No. 1 - 2023 - The global economy remained sluggish in the first quarter of this year, but signs of improvement are emerging. Growth estimates for 2023 continue to point to a clear slowdown, but one less pronounced than was forecast last autumn. Cyclical developments are being affected by persistently strong inflationary pressures, the connected increase in interest rates and geopolitical tensions.
- 28 December 2022 - Notes on financial stability and supervision No. 32 - Bad loan recovery rates in 2021
25 November 2022 - Financial Stability Report No. 2 - 2022 - Global economic activity slowed over the summer and growth estimates in the leading economies have been revised downwards for next year. The global economic cycle remains heavily influenced by high inflation, the energy and food supply difficulties caused by the continuing conflict in Ukraine, the latter exacerbated by drought conditions, as well as by the slowdown in the Chinese economy. The central banks of several countries are continuing to normalize their monetary policies in order to counter inflationary pressures.
- 28 October 2022 - Notes on Financial Stability and Supervision No. 31 - Insurance coverage against operational risks of Italian companies: some evidence from the Bank of Italy's survey of Industrial and Service Firms