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Bank-of-Italy-007qBERGAMO: Bank of Italy Governor Vincenzo Visco called on Saturday for more powers for regulators to step in at troubled banks but defended his institution's oversight of Monte dei Paschi di Siena and said the bank was not at risk of failing.

 

Responding to criticism about banking oversight in the case of the Tuscan lender, Visco repeated that central bank supervisors had acted appropriately but asked for more powers to remove bank executives in exceptional cases.

 

"The supervisor should have the power to intervene when based on solid evidence it believes it is necessary to oppose the appointment of (banks') executives or to remove them" Visco, who also sits on the European Central Bank governing council, said in a speech to a finance conference.

 

Copyright Reuters, 2013


 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln