The banking groups that will use advanced internal rating methods from the outset have initiated an especially intensive interaction with the supervisory department of the Bank of Italy. Basel 2 and IAS also constitute an additional reason for adapting Italian law to the needs of a modern “regulated market economy ”.
Albeit in different ways and to a variable extent, three fields of economic legislation will be involved: company law, competition law and bankruptcy law. Italy’s recent company law reform is now filtering into the concrete reality of firms and banks. The legislation on banking has been coordinated with the Civil Code by Legislative Decree 37/2004. The implementing regulations will follow soon.