The aspects on which the Bank of Italy has focused in helping banks to interpret the new company law are a more general notion of equity interest, adaptation of the requisites for bank officers and above all the duties and responsibilities of the board of directors and control bodies in the traditional and new models of governance.
For Basel 2 and IAS to have the desired effects, the independence granted to directors – notably in the revised Articles 2381 and 2392 of the Civil Code – must be accompanied by strengthened internal and external controls on operations and accounts.