Italy
Reserve managers see politics shaping currency allocations
European political uncertainty weakens confidence in euro, with sterling pressured by Brexit; dollar’s popularity resurgent, despite Trump’s economic policies
Financial constraints fuel price mark-ups, Italian paper finds
Researchers use data on Italian economy in 2010 to 2013
ECB gives green light to Italian recapitalisation law
ECB raises no objection to decree but other obstacles may remain
Italian governor calls for reform of NPL regulations
Bank of Italy paper sets out proposals for sterilising effects of NPL sales
Italian inflation pressures are weakening – ECB paper
Price cuts are more common for manufactured goods, the researchers say, while price increases for services are slowing
Bank of Italy sells off three ‘good banks’ for €1
UBI Banca agrees to recapitalise banks created from regional lenders
Italian paper looks at securitisation of SME loans
Asymmetric information can be overcome by the use of observable data
Italian police arrest two over Draghi hacking allegations
Investigating official suspects wide-ranging conspiracy; attempts made to hack over 18,000 email accounts, local authorities say
Bank of Italy sets up joint cyber security organisation
New organisation in collaboration with Italian banking association; will provide “cyber emergency operating centre”
Spanish paper looks at eurozone inflation expectations
Pan-eurozone factors are more important than country-specific forces, paper says
Route ahead unclear for Italian banks
At least one bank faces major loan book problems; European law may present difficulties with recapitalisation and “bad banks”
Italian banks’ macro cycle “still weak” – Bank of Italy report
Italian central bank publishes latest financial stability report
Credit scoring improves borrower selection, Bank of Italy paper says
Paper presents a database on loans and the use of credit-scoring models; banks’ use of credit scoring reduces the likelihood of borrower defaulting, researchers say
ECB’s economic bulletin paints mixed picture of eurozone investment
Business investment recovering overall but several factors may limit further growth, ECB says
Bank of Italy issues latest economic bulletin
Non-performing loan ratios improving at five largest banking groups, central bank argues
Obituary: Carlo Azeglio Ciampi
Former Bank of Italy governor dies aged 95. The former partisan also held the roles of finance minister, prime minister and president
Wage Phillips curves in eurozone steepened after 2008 – paper
Germany was the exception among major eurozone economies, Bank of Italy paper argues
Recessions nearly tripled amount of Italian NPLs, paper argues
Italian bad debt levels would be almost one third of their current levels without the sub-prime and sovereign debt crises, a counterfactual analysis argues
Major economies show clear credit price cycles, researchers say
Housing markets are a key influence on credit prices cycles in the US and major European economies, an ECB paper argues
IMF working paper encourages Italian banks to clean up balance sheets
Italian banks are likely to become more profitable as economy recovers, authors say, though their capacity to lend is linked to capital buffers
Bank of Italy to receive €1bn for liquidating holding in equity firm
Italy’s central bank will gain about €1bn for liquidating its shareholding in an equity firm partly owned by the Italian state; holding began after the firm transferred stake in insurer
ECB bulletin says institutional reform important for increasing resilience
Governing institutions in eurozone countries need reform, the ECB says; Finland’s institutions are among very best in OECD but those of Greece and Italy are close to worst
Italian banks feel more pressure from EBA stress-test results
Publication of the 2016 stress tests on European banks focuses attention on Italian banks in particular, but private sector recapitalisation plan takes some pressure off MPS
All eyes on Italy as EBA prepares to release stress test results
Portuguese, Austrian and German banks may also be the possible subjects of market attention after tonight's publication