The Supervision of the ECB "is not representing a turning point for the recovery, but weighs down measures which from being prudential are paradoxically transformed into further uncertainty for the banks themselves which, instead, need greater profitability". This was stated by the president of ABI, Antonio Patuelli, during his speech at the 92nd Savings Day, organized in Rome by ACRI.
According to Patuelli, "a leap in quality of European strategies and a verification of the experience of the Single Supervision is essential", also because "2017 will see a very small number of banking groups and independent banks in Italy following the national reforms, but hindered by the Single supervision that often asks for additional capital for new mergers, which have also been disadvantaged by the anachronistic survival of our intragroup VAT”.
GUZZETTI: ATLAS FUND AT RISK
“The low number of subscriptions to Atlante runs the risk of defeating the purpose for which the fund was set up: that is, that Atlante is not only (or above all) a tool for managing certain emergencies, but rather a broad-spectrum intervention capable of creating a real NPL market and thus raise the transfer value of non-performing loans by banks". Giuseppe Guzzetti, president of Acri, returns to renew his criticisms of the behavior of those banks, such as Bnp Paribas and Credit Agricole explicitly mentioned by him on Wednesday, who have not joined the bank bailout fund.
“I would like to remind you that without the 536 million euro granted to Atlante by the Foundations, the threshold of 4 billion euro set by the ECB would not have been reached,” added Guzzetti. According to the number one of ACRI, "we also need to calm the hysteria of the financial markets" and to succeed "the adequate means must be made available to Atlante, otherwise the function of the fund will be limited and marginal".
As for the sale of the new Etruria, Carife, Carichieti and Banca Marche, the good banks born from the resolution procedure of the four institutions, according to Guzzetti "the continuation of excessive insistence by the Single Supervisory Authority of Frankfurt on the capitalization of the buyer or by part of the EU Commission on alleged state aid would not make it possible to carry out an operation which, otherwise, could have the conditions for an acceptable definition. The first test, and hopefully also the last, of a resolution procedure cannot end negatively and, in any case, it will not be so due to Italian responsibility".
