Benvenuto sul sito del Ministero dell’Economia e delle Finanze, conosciuto anche come Portale mef

Contenuto principale

- MEETING OF THE FINANCIAL STABILITY COMMITTEE (CSSF) ON 2 NOVEMBER 2011

Press release N° 171 of 11/02/2011

The Financial Stability Committee met today to examine the latest developments of the tensions in international financial markets.

Chaired by the economy and finance minister Giulio Tremonti, Committee members analysed the progression of the financial crisis currently underway.

The trend toward the balance of public account is continuing. Latest data show that the public sector borrowing requirement is lower than expected.

Banca d'Italia has provided an analysis of the current economic and financial scenario observing, in the Financial Stability Report it issued today, that while enterprises were impacted by the sluggish economy, the financial position of families was substantially solid thanks to modest debt levels.

While bearing the impact of the sovereign debt crisis and the slow economic growth, the Italian banking system is also feeling the effects of lower deposits from the wholesale international division. Italian banks, though, can rely on ample margins to increase refinancing within the Eurosystem thanks to available allocable surplus. Bank capital grew in 2011 through capital increase operations and the capitalisation of profits and will be further strengthened by operations currently underway at a European level.

The insurance sector too has been affected by the tensions in the sovereign debt sector. Premium income, on the other hand, was impacted by the real economy and the distribution of life insurance products by the banking sector.

The Committee agreed to continue monitoring developments in the financial, banking and insurance markets.

Rome 11/02/2011
IT