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Banks and finance after the crisis: Lessons and challenges

Ignazio Visco ()

PSL Quarterly Review, 2018, vol. 71, issue 286, 255-277

Abstract: The double-dip recession that hit the Italian economy between 2008 and 2013 has caused severe difficulties for the banking sector in the last few years, which have been aggravated by cases of malfeasance. This speech discusses the response of the Bank of Italy’s supervision and the measures adopted to solve the crises that have concerned some banks. It then examines the questions still open regarding the new European financial regulation framework, especially those concerning State aid and bank resolution, as well as its flaws, including the lack of crisis management rules designed to avoid a disorderly exit of banks from the market. Finally, it looks at the main challenges facing Italy’s banking sector, i.e. recovering profitability and adjusting to changes in the production system and in technology.

Keywords: Italy’s banking sector; banking crises; bank resolution (search for similar items in EconPapers)
JEL-codes: G21 G33 G38 (search for similar items in EconPapers)
Date: 2018
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