Bankitalia: "Prospects for growth and inflation"

Jan 24

Posted by ReD as Bankitalia, Euro, Finance 2007, Macroeconomics, News

There are "favorable prospects for growth and inflation" for "Italy and the euro area. E 'quanto emerge from' meeting today in Via Nazionale between the Governor of the Banca d 'Italy, Mario Draghi, and leaders of the major Italian banks. In particular, says a note in Palazzo Koch, "the European growth, led by Germany, it is supported and the financial global reassuring."

In this context, "financial markets are characterized by very low levels of risk premiums and overall does not seem to act in a review of these optimistic assessments." The participants also agreed that '' the high propensity of bank credit in Italy reflects the acceleration of loans to businesses linked to the increase in investments and stocks and © to the achievement of extraordinary financial operations. "

Today's meeting is also an opportunity to analyze the effects of the European directive MiFID and the adjustment of the banking system to the new discipline of compliance. The adjustment to the MiFID, which should happen by next October, is explained in the note, "will require brokers from operating activities on organizational and procedural issues in order to minimize legal risks and reputation associated with the provision of services investment and improve the supply in a context of increased competitiveness. "

Banks have therefore described the measures implemented or under development to make their operating structures in accordance with the requirements of the Directive. " At the meeting were also discussed "the obligations that banks may deem necessary to establish a compliance function, as required by the instructions of the supervisory boards of the next issue, minimize the risk of incurring penalties, losses financial or reputational damage as a result of violation of rules. "

Source: Adnkronos