In addition to prudential supervision, the Bank of Italy is entrusted with tasks and responsibilities concerning transparency and correctness in bank-customer relations as regards banking products. In recent years we have significantly stepped up our commitment on this front.
In the face of inefficiencies, it is necessary to shun the temptation to impose price caps or prohibitions on banks; however commendable the intent, these would merely scratch the surface of the problems, determining non-optimal pricing policies, impeding innovation and in some cases even reducing competition.