Many central banks may indeed yearn for less interesting times, as what they believed to be temporary unconventional measures, appear to be assuming more permanent characteristics. As usual, my intent is to use this opportunity to provide you with an update on our views of key market developments.
Efficient funds transfer, with no waste of time or money, enables migrants to channel their earnings to productive ends. In Italy the regulatory framework on transparency in the payment market will be enhanced by the Payment Services Directive. The objectives of the new legal framework are to heighten competition in the retail payment market, strengthen user protection and develop more efficient payment services.