All the countries of Europe have pledged to transpose those rules into law, in keeping with rigorous principles, already present in our model of supervision, whose validity was confirmed in the course of the crisis. The European Systemic Risk Board, charged with signalling areas of risk and making recommendations, will need to be able to accompany its analyses with effective intervention measures.
It will avail itself of systemic stability risk assessments shared with the microprudential supervisory authorities. Italian banks and the Bank of Italy’s supervisory action The money and financial markets are now functioning better, but the return to complete normality will take time. Banks, particularly European banks, are having difficulty raising funds in the market.