Yes to a rule on bankers who have heavy responsibilities in the crises of the various institutions.
This was stated by the Finance Minister, Pier Carlo Padoan, during the hearing in the Senate Finance Commission.
The MEF's number one opens up the possibility of introducing it into Italian legislation “a rule for those who have had serious responsibilities'” in banking crises. "As regards the responsibilities of bank administrators - continued the minister - I am in favor of a law which clarifies that responsibilities in this field are certainly important and must first of all be avoided and eventually sanctioned".
Speaking of banks, Padoan obviously addressed the hottest topics of the last period, viz Monte dei Paschi and Venetian Banks. According to the head of Economy, with the bailout of the former and the precautionary liquidation of the latter "a large part of the risk perceived on the banking system has been removed from the table: we can see it from the banking list that has earned the most". Looking at the performance of the last month, the Ftse Italia Banche recovered 8,8%. But this could be just the beginning. Based on what the minister said: “We will see the most effective signal when there is an important recovery in credit by Monte dei Paschi. MPS – he observed – has a realistic industrial plan, I expect it will make an important contribution to the Italian economic system”.
On the Npl issue Padoan expresses optimism. Non-performing loans of Italian banks are decreasing. “We see it from the descent of the flows and we also see it from the stocks”. The minister also cited the operation carried out by UniCredit with the sale of 17 billion gross non-performing loans as "a case of success". For the non-performing "the secondary market is starting up and it is indirectly a sign of health of the banking system". However, the number one of the MEF invites the banks to change their pace on non-performing loans, adopting "an active management of exposures with determination and incisiveness".
During this afternoon's hearing, Padoan also announced the signing of the decree establishing the Financial Education Committee which will be led by Professor Anna Maria Lusardi.
