The presence of possible distortions caused by a prolonged period of low interest rates indicates that policymakers should raise interest rates as soon as macroeconomic conditions allow. Low interest rates are good for macroeconomic stability in the short run, but could harm long-run financial...

The definition of an internal process to prevent and manage reputational crises is a priority for banks.The Compliance Function can offer a tangible contribution to implement an effective crisis management process.The definition of a contingency plan, of a team of crisis management and of lines...

Which are the functions of a compensation system? How it can be used by a company or a bank as an instrument of human resources management? Which are the relations between remuneration systems and bank performances? Only the answer to these questions can help to redefine and project the...

The Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States was released on January 27th 2011.The strong political differences within the Commission prevented the draft of a shared report. In addition to the majority report, two dissenting...

The effects of the crisis and the consequent economic policies have accelerated the actions of large European banks to reduce operating and labour costs, in particular concerning the branch network, back-office and other nonproductive processes. In this context, remuneration policies are...

This paper analyzes the determinants of credit to medium-sized enterprises before and during the crisis in Italy. While the bank-enterprise relationship seems to be crucial in the granting of credit before the crisis of 2007, during the crisis the results show a greater virtuosity of firms...

The Great Depression and the present crisis are united by the need for large banks, to address issues of liquidity, profitability and capital adequacy and radically change their business model. Two collections of Comit internal documents of the Thirties offer interesting teachings: the...

During the critical stage of the financial crisis - between June 2008 and December 2009 - the credit policies of Italian banks were characterized by a wide range of different behaviours and performances, not only due to bank size. An analysis of a large sample of Italian banks, representing 85%...

Service agreements between the Compliance Function and Internal Auditing can be an effective and efficient option for achieving the objectives assigned to the Function and more generally to the system of corporate controls. Key principles for the drafting of AdS are not meant to be comprehensive...

The financial crisis has stopped the process of globalization, producing an opposite effect in various banking systems.The new trend is toward a reduction in cross-border activities of banks and an increased focus on domestic markets.