Banks have to be made to take account of their borrowers’ overall balance sheet position, so that the bank is not brought down, at one remove, by the foreign exchange exposure of its borrowers. Poor credit appraisal was clearly a central factor in the Asian crisis, which now has to be addressed.
We received 40 projects submitted by 62 different operators: financial intermediaries, start-ups, service providers, universities, industry associations, research centres, consulting firms and law firms (slide 1). The call was answered by young start-ups (less than two years old) and by Italian and foreign banking, finance, insurance and commercial groups, including some listed companies.