The periodical meeting of the Financial Stability Committee (CSSF) took place today and examined the latest developments of the tensions that are affecting the sovereign debt markets and how these are affecting the financial sector and the economy.
Chaired by the economy and finance minister Giulio Tremonti, the meeting was attended by the general manager of Banca d'Italia Fabrizio Saccomanni, the chairman of Isvap Giancarlo Giannini, the chairman of Consob Giuseppe Vegas and, the general manager of the Treasury Vittorio Grilli, who was connected by phone.
The Committee examined the recent performance of the financial markets by relying on the analyses conducted by the supervisory authorities.
Notwithstanding the progressive reduction of the public deficit, the analyses show that Italy is affected by the tensions arising from international uncertainty. The analyses confirm that the banking and financial system in Italy is solid, thanks to the timely action taken to strengthen bank capital and liquidity.
The Committee agreed on the need to continue monitoring the situation closely.