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Banks and finance after the crisis: Lessons and challenges

Author

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  • Ignazio Visco

Abstract

The double-dip recession that hit the Italian economy between 2008 and 2013 has caused severe difficulties for the banking sector in the last few years, which have been aggravated by cases of malfeasance. This speech discusses the response of the Bank of Italy’s supervision and the measures adopted to solve the crises that have concerned some banks. It then examines the questions still open regarding the new European financial regulation framework, especially those concerning State aid and bank resolution, as well as its flaws, including the lack of crisis management rules designed to avoid a disorderly exit of banks from the market. Finally, it looks at the main challenges facing Italy’s banking sector, i.e. recovering profitability and adjusting to changes in the production system and in technology.

Suggested Citation

  • Ignazio Visco, 2018. "Banks and finance after the crisis: Lessons and challenges," PSL Quarterly Review, Economia civile, vol. 71(286), pages 255-277.
    • Handle: RePEc:psl:pslqrr:2018:31
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    File URL: https://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/14430/14081
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    Citations

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    Cited by:

    1. Vincenzo Cuciniello & Nicola di Iasio, 2020. "Determinants of the credit cycle: a flow analysis of the extensive margin," Temi di discussione (Economic working papers) 1266, Bank of Italy, Economic Research and International Relations Area.
    2. Giuliana Birindelli & Paola Ferretti & Helen Chiappini & Andrea Cosentino, 2020. "Intellectual Capital Disclosure: Some Evidence from Healthy and Distressed Banks in Italy," Sustainability, MDPI, vol. 12(8), pages 1-20, April.
    3. Glen Gauci & Simon Grima, 2020. "The Impact of Regulatory Pressures on Governance on the Performance of Public Banks’ with a European Mediterranean Region Connection," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 360-387.
    4. Elisabetta Montanaro, 2023. "La vigilanza bancaria. Storia, teorie, prospettive di Lorenzo Esposito e Giuseppe Mastromatteo: un articolo di recensione (La vigilanza bancaria. Storia, teorie, prospettive by Lorenzo Esposito and Gi," Moneta e Credito, Economia civile, vol. 76(302), pages 133-153.
    5. Rostagno, Massimo & Altavilla, Carlo & Carboni, Giacomo & Lemke, Wolfgang & Motto, Roberto & Saint Guilhem, Arthur & Yiangou, Jonathan, 2019. "A tale of two decades: the ECB’s monetary policy at 20," Working Paper Series 2346, European Central Bank.

    More about this item

    Keywords

    Italy’s banking sector; banking crises; bank resolution;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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