Ladies and Gentlemen, Good morning. It is my pleasure to be here amongst all of you in the Annual conference on secure banking 2011, and share with you some of my thoughts on the subject. I thank IBA and MP TFCI, co-organizers for the event, for this opportunity.
Banks' capitalisation, while coming slightly down in the first half of the year, is higher than before the pandemic. With all this, banks remain highly exposed to cyclical risks, and should cautiously factor in all uncertainties when making their risk and capital management decisions. Insurance The impact of the market turmoil on Italian insurers' solvency ratio has remained modest until now.