In less than a month the eyes of the ECB they will not only stop to supervise the largest banks, but will also directly reach the smallest banking institutions. In the crosshairs of European supervision there are not only the 120 main banks of the continent, but also the 4.200 smaller banks, of which 530 are in Italy. Eurotower's intervention, codified by the new manual of European banking supervision, will concern ours popular banks, Bcc and savings banks.
From next 4th Novemberwhen it becomes fully operational new European supervision, the ECB will be able to do direct bank inspections, to impose additional patrimonial reinforcements, give or not the green light for acquisitions, authorize or withdraw the banking license. Of course, the ECB's new powers of intervention will not only concern small and medium-sized Italian banks but also all of Europe and therefore the Spanish Cajas, German Landesbanken and French municipal credit banks, which in recent years have revealed many problems despite the political protection of the national authorities.
The Bccs, the Popolari and the Italian savings banks will remain primarily under the supervision of the Bank of Italy but the novelty is that from November they will also be monitored by the European Central Bank led by Mario Draghi, who will have full freedom of movement on their accounts also bypassing Via Nazionale if it was necessary. In essence, Eurotower will be “responsible (of last resort) for crisis management activities related to less significant institutions” of the European banking planet.
The ECB, by virtue of the new manual of European supervision, will also be able commission the banks which reveal signs of crisis, the prevention of crisis outbreaks being precisely the aim of the new European supervision. In short, from now on, double supervision for all Italian and European banks: of the ECB and of the national central bank, which will naturally have to act in close collaboration, but knowing that the ECB now has greater powers. And he will exercise them without looking at anyone.
