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The reform of the capital of the Bank of Italy: accounting, fiscal and vigilance effects on the shareholder banks

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  • Guido Abate

    (University of Brescia)

Abstract

This study analyzes the reform of the capital carried out by the Bank of Italy in 2013, evaluating it in the broader evolution of that institution and within the operations that have involved the shareholding of an international sample of central banks in the past decades, identifying points of contact and divergence with the foreign experience. Moreover, the study evaluates the effects of the 2013 reform on the financial reports of its main shareholders, with a focus on banks, delving into the controversial aspects in the light international accounting standards, with particular regard to the operations of derecognition and recognition of the shares of capital. The impact of the reform is analyzed both on the taxation of shareholders and on banks’ capital requirements, on the basis of the regulations issued by the Bank of Italy and of the choices made by the subjects involved.

Suggested Citation

  • Guido Abate, 2015. "The reform of the capital of the Bank of Italy: accounting, fiscal and vigilance effects on the shareholder banks," Rivista Bancaria - Minerva Bancaria, Istituto di Cultura Bancaria Francesco Parrillo, issue 1, January -.
    • Handle: RePEc:rvs:bancar:15_1_3
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    More about this item

    Keywords

    Bank of Italy; equity value of central banks; bank’s financial report;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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