Magnifying glass on our banking system, financial and insurance and on the protection of customers and savers. It is fresh from the approval of the Chamber of Senate the green light for the establishment of a parliamentary commission of inquiry on our institutions, to investigate events and behaviors that have caused crisis e bank failures of the last decade and, more generally, to monitor the overall functioning of the country's financial system, with particular regard to the protection of savers, access to credit for young families and businesses, including micro, small and medium-sized ones.
Already in the two previous legislatures, Parliament had identified the need to establish a bicameral parliamentary commission of inquiry into the Italian banking and financial system. Now the yes of Palazzo Madama for this commission, also unicameral, established by only 14 senators appointed by the President of the Senate, in proportion to the number of members of the parliamentary groups, ensuring however the presence of a representative for each group.
Duties and powers of the Commission of Inquiry into the Banking System
The commission's field of action is broad, starting from documentation collected by the Banking Commission of the XVIII Legislature: 1) acquire data collected e information on the functioning of the banking, financial and insurance system, also with a view to protecting savers; 2) in relation to the granting of credit, examine the regulations to avoid the formation of usurious rates and the phenomenon of bank anatocism; 3) acquire information on crisis situations involving banking, financial and insurance institutions; 4) analyse the financing of dispute resolution bodies in relation to the protection of savings; 5) analyse the legislation of popular banks and cooperative credit; 6) analyse the sector legislation and monitor the development of digital finance with a focus on crypto-activities; 7) monitor the phenomenon of banking desertification; 8) analyze the impact of artificial intelligence on the use of clouds in the sectors mentioned; 9) analyze and monitor the development of models of sustainable finance; 10) analyze the discipline in the field of immense performing exposure, that is, bad loans, in their various articulations; 11) analyse the discipline to prevent and counteract recycling and the financing of terrorism; 12) analyze the tax discipline on financial activities in order to encourage the inflow of saving towards the real economy; 13) verify the savings conditions in Italy; 14) verify how the Savings Compensation Fund, the so-called FIR, is implemented; 15) analyze the models of government, the governance procedures and related matters of the national supervisory authorities for the protection of savings; 16) analyse the adequacy and effectiveness of the discipline on the placement of high risk products.
It is expected that the Commission will proceed with the same powers and limitations as the judicial authority. The Commission, limited to the subject matter of its competence, cannot be opposed to official, professional or banking secrets.
A report on the activity carried out may be presented report annual in the Senate.
