Banca d’Italia remains open to dialogue with the cooperative credit banking groups in order to identify areas where supervisory practices and regulation can be simplified so as to take due account of their particular features.
They are systematic, based on a limited number of variables, perform well in a variety of models, and can therefore provide important guidance for policy decisions. If our policy is guided by statecontingent rules, then by reporting our assessment about the evolution or forecast of key economic variables, the public will get a better understanding and appreciation of the likely path of policy.