The criticisms of the devastating proposal by the ECB Supervisory Authority to clamp down on problem loans by obliging banks to cover 2018% new NPLs from 100 has raised, of course, an avalanche of criticisms.
The Bank of Italy has spoken out against the proposal by Danièle Nouy, head of European banking supervision, criticized several times by the president of the ECB himself Mario Draghi, but also the ABI, the Government and Confindustria. Too much rigor cripples and risks suffocating credit to businesses and households, putting banks in difficulty, especially those in peripheral Europe such as Italy.
But among the many criticisms, the wittiest and most caustic, which deserves to be mentioned, was that of the economist Marco Onado, professor at Bocconi and former commissioner of Consob, author of a successful pamphlet a few months ago entitled "In search of the lost bank ”, published by il Mulino. After having conducted, in the columns of the Sole 24 Ore, a close criticism of the excess of zeal of the Supervision of the ECB, Onado, who is also a great football fan, concludes as follows: "If this is penalty, it is urgent to introduce the VAR also in the field of banking supervision. Spectacular goal…
