The Italian financial system is resistant but not immune to risks. This is the verdict of the International Monetary Fund on the banking system that has reached closed markets and is eagerly awaited, the result of the mission held in Italy to verify the country's financial stability. The judgment confirms the positive rumors circulated in the afternoon.
The Italian financial system has shown "significant resilience" but even if stabilized it is not immune to risks, such as the continued weakness of the real economy and the link between the financial sector and the sovereign one. Resistance concerns both targeted shocks and a low growth scenario. In detail, the preliminary results of the stress tests suggest that the Italian banking system as a whole would be able to withstand both a scenario of targeted shocks and one of protracted slow growth,”thanks to the strong capital position of the banks and the liquidity of the ECB".
Then there is a positive reference to the role played by Bank of Italy which in some cases guarantees supervision close to best practices. The "strong" supervision of the financial system in Italy, notes the IMF, is one of the essential pillars of its stability. Supervision compliance with international standards is high and approaches best practice in some areas.
There is also a reference to the age-old question of foundations. Whose role for the IMF has been important but which requires close supervision. In particular, the Fund notes that the "e Foundations have played an important role as stable long-term shareholder, but their presence in the system and the peculiar governance structure requires closer supervision".
