The flood of rules that Europe is unleashing on banks and insurance companies risks creating quite a few problems for Italian financial institutions above all because the new regulation favors financial stability by underestimating the macro aspects and neglecting growth.
Governor Ignazio Visco also spoke about it in his "Final considerations" at the Bank of Italy assembly on 26 May and a recent seminar of the Bruno Visentini Foundation in Orvieto spoke about it, in which the former minister and director general emeritus of the Bank of Italy, Fabrizio Saccomanni, the honorable Bruno Tabacci, the scientific director of the Foundation, Gustavo Visentini and numerous academics especially from Luiss and the Catholic University of Milan.
From the Orvieto seminar arose the idea of setting up a permanent Observatory at the Bruno Visentini Foundation focused on recognizing the rules and principles underlying the new European rules for banks and insurance companies, with an eye to the single mechanism for the supervision and resolution of crisis in the financial sector and their effects on Italy.
In the banking field, the spotlights will be focused in particular on the effects of the bail-in envisaged by the second pillar of the European banking union. In the insurance field, however, particular attention will be paid to the investigation into the supervisory powers of EIOPA and the national authorities with reference to stress tests and the need to highlight factors of vulnerability in the sector.
