A major contribution to improving relations between intermediaries and customers comes from the institution of the Banking and Financial Arbiter, which has been in operation since 15 October. Customer appeals have come in steadily, and the panels have already handed down their first decisions. In a number of cases disputes were settled in the customer’s favour even before the Arbiter’s ruling.
The initial signs are therefore very encouraging. The overall outcomes of customer complaints will be made public in April, providing useful information for supervisory action. 1  6  http://www.bancaditalia.it/vigilanza/banche/questio/comm_banche.pdf (only in Italian). BIS Review 20/2010  Supervisory action The action of the Bank of Italy in supervising banks and financial intermediaries is governed by a consistent logic.