It is known in the literature that affective reactions and subjective factors influence the evaluation of risk. The goal of our work is to assess to what extent recent regulation change in the description of risk, the Synthetic Risk Indicator (ISR) in the "Key Investor Information Document"...

This work focuses on a lesser-explored aspect of the fruitful interaction between the judiciary and the Bank of Italy: the customer protection. The paper firstly recalls the evolution of banking legislation, where customers' rights protection has progressively turned into a formal policy goal of...

Central banks are institutions endowed with policy-making and regulation functions, but structured as for-profit companies both on a financial and, often, a legal point of view. This unusual institutional framework is emphasized by the presence of private shareholders in the capital of some of...

Policy makers and public opinion are very interested in forthcoming modifications to the institutional architecture of the European banking supervision. However, the improvements to this institutional architecture do not cover the whole area of the interventions put in action to face the...

The paper analyses the recent italian regulations of related party transactions issued by Consob and Banca d'Italia. The two regulations address to partially overlapping subjects: Consob regulation is dedicated to listed companies while the one of the Banca d'Italia addresses to banks. Banks...

The work aims at providing an empirical evidence on the ineffectiveness of the board of statutory auditors in Italian banking industry in the time-span 2002-2011. Using the results of the inspection procedures of the Bank of Italy, as a measure of the effectiveness of the statutory auditors, the...

In this work the traditional profit test - "the process of assessing the profitability of an insurance contract in advance of it being written", as defined in the "Encyclopedia of Actuarial Science" - is built according to the principles of "market consistency"outlined in the Solvency II EU...

The study shows that the type of LTD is widely used both in the activities of nonbank financial intermediation and in various structured finance transactions. The official statistics of the Bank of Italy reveal, in particular, a massive, almost exclusively, use of Ltd for securitizations....

The Single Supervisory Mechanism (SSM), which is the first pillar of the European Banking Union, confers specific tasks and sanctioning powers to the European Central Bank concerning the prudential supervision of credit institutions. The article focuses on the SSM structure and on the...

The public guarantee programs set by policy makers are taking an increasing importance in support access to credit for SMEs. We intend to verify the main default drivers of operations assisted by the Central Guarantee Fund (CGF), in order to identify policies for improving its economic...