(Finance) – The concentration operations affecting the Italian financial system – which involve banks of various sizes, insurance companies, savings management companies and foreign intermediaries – “are favored primarily by the abundance of excess capital in the banking sector Furthermore, the prospect of a restriction of the margins on the loan activity, linked to the decrease in interest rates It pushes the intermediaries to search for economies of scale or productive synergies“. The Governor of the Bank of Italy said so, Fabio Panettaintervening at the 31st congress of financial market operators, organized in Turin by Assiom Forex.
“The announced operations would reduce the dimensional gap between the main Italian intermediaries and European competitors. In Italy The average value of the assets of the first five banks is four times lower than that of French banks And a lower time than that of the Spanish and German intermediaries – he added – although in general in the banking sector the large dimensions involve both advantages and some well -known critical issues, these operations can be framed in a perspective of integration and consolidation of the market European”.
The governor stressed that “the authorization procedures involve the Bank of Italy both independently and in collaboration with various national and European authorities. The process starts after the notification of the operations by the promoters, who they are not required to inform the authorities in advance“.
“Supervision verifies compliance with Italian and European regulations, evaluating the ability of each operation to create solid, efficient and capable of operating according to principles of healthy and prudent management at the service of the real economy and without compromising financial stability – He added – in compliance with these criteria, theThe result of the operations is entrusted to market dynamics and the choices of shareholders“.