In line with international guidelines, we now have to revise the framework of rules in two ways: expanding the spectrum of crisis resolution measures; and giving the Bank of Italy, as supervisory authority, the power to remove corporate officers responsible for conduct harmful to the sound and prudent management of a bank.
Suitable rules alone are not enough to ensure good supervision: without strong operating practices, without stringent and efficacious action, crises will not be averted. This has been made abundantly clear by the dramatic recent experiences. With the Bank of Italy’s supervisory role, our country has been able to count on a solid tradition.