The implementation of the National Payment Switch, which is well underway, is expected to add more impetus and dynamism to the payment systems infrastructure by providing a multifaceted inter-bank switching platform for various payment channels that will easily integrate local and international payment systems. Additionally, instantaneous access to bank accounts has become the basis for digitalisation of the economy.
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.