I would be pleased to respond to any questions members of the Joint Committee might have. 2  BIS central bankers’ speeches
In March 2013, during the BRRD negotiations at the EU Council of Ministers, the Bank of Italy and the Ministry of Economy and Finance presented a technical “non-paper” to all the delegations in order to illustrate the reasons for our preference for contractual (or targeted) bail-ins, applied only to newly-issued securities containing a specific clause in the contract recognizing the power of the authorities to write down or convert the securities if the conditions for starting a resolution procedure were met.