To meet the timetable for US implementation, it is important that the agencies move forward in considering the comments as promptly as possible. Therefore, I particularly encourage you in your comments to go beyond criticism of what has been proposed and specify your preferred solution, including alternative technical methodologies, language, and frameworks.
Our Annual Report details the role of the banks in the intermediation of Italians’ savings; the Report on Operations and Activities describes the supervisory action of the Bank of Italy. Bank loans to households and firms at the end of 2013 exceeded € trillion and 90 per cent of gross domestic product. Credit accounts for almost two thirds of firms’ financial debt.