The weight of banking foundations in the capital of credit institutions "it is a big problem and must be tackled with courage". This is the position of John Pitruzzella, president ofAntitrust, on how to make the Italian banking sector more competitive and transparent.
"Given that foundations have certainly played a role in stabilizing our financial system - continues Pitruzzella on the microphones of Radio Rai 1 -, our credit institutions probably require further capitalization processes and the attraction of new investors other than foundations is a an aspect of great interest and importance".
After the controversy that arose around the Mps scandal, the number one of the Antitrust underlines that “the Bank of Italy has always operated in a very efficient way, as recognized internationally, but certainly there is still a lot to do to make the banking sector more competitive and transparent. In this legislature a law was introduced which prevented the same people from sitting on the boards of competing banking and financial institutions. However, alongside the full application of this rule, serious reflection must also be made, as demonstrated by the events of recent days, on the role of banking foundations”.
Pitruzzella believes that it is necessary to act to “strengthen the criteria that make transparency the nominations, both in the banking foundations, and then in turn in the exercise that the banking foundations carry out in their power as shareholders. It is also necessary to make transparent, such as to guarantee the stability of the assets, asset management criteria of foundations".
Meanwhile, this morning MPS's rebound continues in Piazza Affari. Already in the first exchanges, the institute's shares jumped to the top of the Ftse Mib, recording a rise of 3,5%, to 0,2708 euros. Over 50 million titles changed hands in just a few minutes.
