Banking supervision in Italy
In Italy, banking and financial supervision is carried out by the inter-Ministerial Committee on loans and savings, the Bank of Italy and the national Commission for the control of financial companies and the stock exchange. The first of these bodies, headed by the Minister of Finance, is mainly responsible for the overall supervision of credit policy and the protection of Deposit savings. The Central Bank of Italy prepares draft decisions and proposals on oversight of the Committee's resolutions, establishes its rules and directly supervises itself, both in documentary and remote forms.
The national Commission for control of the financial and stock exchange controls the activities of credit and financial institutions in the securities market. Basic principles of Supervisory activities in Italy are formulated in the new Law on banks, adopted in 1993, it determined the status of the bodies of the banking and financial supervision, procedure of supervision and direct control of the Bank if he was in a difficult financial position. In the 80s in Italy, more attention was paid to the supervision of banking groups consisting of financial and banking companies organized in the form of a holding company. In order to oversee these groups, the concept of joint supervision has been developed, under which the activities of the group as a whole, rather than individual banking institutions, are supervised.