Insolvency And Enforcement Reforms In Italy

Author : José Garrido
Publisher : International Monetary Fund
ISBN 13 : 1475570244
Total Pages : 21 pages
Book Rating : 4.43/5 ( download)

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Download or read book Insolvency and Enforcement Reforms in Italy written by José Garrido and published by International Monetary Fund. This book was released on 2016-07-11 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Italian banks are burdened with high levels of nonperforming loans, the cleanup of which depends in important part on the efficiency of insolvency and enforcement processes. Traditionally, these processes in Italy have taken very long, hampering the timely cleanup of balance sheets. In response, the authorities have legislated a number of measures. This paper explores the recent insolvency and enforcement reforms and the remaining challenges. These reforms introduce important positive changes that are expected to yield full benefits over the medium to long term. The efficacy of the reforms, including to deal with the current stock of high nonperforming loans, can be enhanced by introducing effective out-of-court enforcement mechanisms, supplemented by a more intensive use of informal and hybrid debt-restructuring solutions. Moreover, there is an urgent need to rationalize the system, which over the years has become very complex and intricate.

Author : José Garrido
Publisher : International Monetary Fund
ISBN 13 : 1498357032
Total Pages : 33 pages
Book Rating : 4.36/5 ( download)

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Download or read book Cleaning-up Bank Balance Sheets written by José Garrido and published by International Monetary Fund. This book was released on 2016-07-11 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: To stabilize and bring down nonperforming loans (NPLs) in the Italian banking system, the Italian authorities have been implementing a number of reforms, aimed among others at speeding up insolvency and enforcement proceedings, strengthening bank corporate governance, cleaning up balance sheets, and facilitating bank consolidation. This paper examines the Italian banking system’s NPL problem, which ties up capital, weighing on bank profitability and authorities’ economic reforms. It argues for a comprehensive approach, encompassing economic, supervisory, and legal measures. The authorities’ reforms are important steps toward this end. The paper describes measures that could further support their actions.

Author : José Garrido
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.97/5 ( download)

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Download or read book Cleaning-Up Bank Balance Sheets written by José Garrido and published by . This book was released on 2016 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: To stabilize and bring down nonperforming loans (NPLs) in the Italian banking system, the Italian authorities have been implementing a number of reforms, aimed among others at speeding up insolvency and enforcement proceedings, strengthening bank corporate governance, cleaning up balance sheets, and facilitating bank consolidation. This paper examines the Italian banking system's NPL problem, which ties up capital, weighing on bank profitability and authorities' economic reforms. It argues for a comprehensive approach, encompassing economic, supervisory, and legal measures. The authorities' reforms are important steps toward this end. The paper describes measures that could further support their actions.

Author : International Monetary Fund. European Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498354939
Total Pages : 83 pages
Book Rating : 4.36/5 ( download)

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Download or read book Italy written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2016-07-11 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 2016 Article IV Consultation highlights that the Italian economy is recovering gradually from a deep and protracted recession. Buoyed by exceptionally accommodative monetary policy, favorable commodity prices, supportive fiscal policy, and improved confidence on the back of the authorities’ wide-ranging reform efforts, the economy grew by 0.8 percent in 2015 and continued to expand in the first quarter of 2016. Labor market conditions have been improving gradually, and nonperforming loans appear to be stabilizing at about 18 percent of total loans. Growth is projected to remain just under 1 percent in 2016 and at about 1 percent in 2017.

Author : Nazim Belhocine
Publisher : International Monetary Fund
ISBN 13 : 1484378423
Total Pages : 34 pages
Book Rating : 4.27/5 ( download)

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Download or read book The Insolvency Regime for Large Enterprises in Italy: An Economic and Legal Assessment written by Nazim Belhocine and published by International Monetary Fund. This book was released on 2018-09-28 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The modernization of Italy’s insolvency framework has been the subject of much interest in recent years, related not least to its role in potentially facilitating an efficient allocation of resources. A unique feature of Italy’s insolvency framework is a special regime for large enterprises known as “extraordinary administration”. This paper evaluates the merits of this special regime by assessing its efficacy and success in achieving its stated goals and comparing its features to international standards and best practices. It finds that the special regime tends to impose large costs on creditors and the state. The regime results, in most cases, in the sale of parts of the group, followed by a liquidation phase of the remaining assets which can take longer than the general regime, hindering legal certainty for creditors and more generally economic efficiency, investment and job creation. Based on international best practices and experience, consideration should be given to folding the special regime into the general insolvency regime, possibly with provisions to allow for state intervention in specific well-defined circumstances.

Author : World Bank
Publisher : World Bank Publications
ISBN 13 : 1464814414
Total Pages : 241 pages
Book Rating : 4.19/5 ( download)

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Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.

Author : Andreas Kokkinis
Publisher : Routledge
ISBN 13 : 1000335550
Total Pages : 445 pages
Book Rating : 4.52/5 ( download)

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Download or read book Banking Law written by Andreas Kokkinis and published by Routledge. This book was released on 2021-03-16 with total page 445 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banking regulation and the private law governing the bank-customer relationship came under the spotlight as a result of the global financial crisis of 2007–2009. More than a decade later UK, EU and international regulatory initiatives have transformed the structure, business practices, financing models and governance of the banking sector. This authoritative text offers an in-depth analysis of modern banking law and regulation, while providing an assessment of its effectiveness and normative underpinnings. Its main focus is on UK law and practice, but where necessary it delves into EU law and institutions, such as the European Banking Union and supervisory role of the European Central Bank. The book also covers the regulation of bank corporate governance and executive remuneration, the promises and perils of FinTech and RegTech, and the impact of Brexit on UK financial services. Although detailed, the text remains easy to read and reasonably short; pedagogic features such as a glossary of terms and practice questions for each chapter are intended to facilitate learning. It is a useful resource for students and scholars of banking law and regulation, as well as for regulators and other professionals who are interested in reading a precise and evaluative account of this evolving area of law.

Author : Anke Weber
Publisher : International Monetary Fund
ISBN 13 : 148430926X
Total Pages : 25 pages
Book Rating : 4.61/5 ( download)

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Download or read book Bank Consolidation, Efficiency, and Profitability in Italy written by Anke Weber and published by International Monetary Fund. This book was released on 2017-07-27 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the case for efficiency-driven banking sector consolidation in Italy, evaluates its potential effects on profitability, and discusses policy options to facilitate a consolidation process that is as effective as possible. A bottom-up analysis of 386 Italian banks suggests that while profitability is expected to improve as the economy gradually recovers, operational efficiency gains are nonetheless needed to restore large parts of the banking system to healthy profitability. Banking system consolidation can play a role in facilitating such efficiency gains, but its effectiveness is likely to be most as part of a comprehensive strategy that includes complementary reforms to clean up bank balance sheets. Cross-country experience indicates that efficiency gains are more likely to follow consolidations where careful viability analyses are conducted of the synergies and operational improvements that can be achieved.

Author : Andreas Jobst
Publisher : International Monetary Fund
ISBN 13 : 1475527519
Total Pages : 34 pages
Book Rating : 4.13/5 ( download)

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Download or read book Profitability and Balance Sheet Repair of Italian Banks written by Andreas Jobst and published by International Monetary Fund. This book was released on 2016-08-19 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: The profitability of Italian banks depends, among other factors, on the strength of the ongoing economic recovery, the stance of monetary policy, and the beneficial effects of current and past reforms, notably to address structural obstacles to resolving nonperforming loans (NPLs) and to foster banking sector consolidation. Improved profitability would enable banks to raise capital buffers and accelerate the cleanup of their balance sheets. This paper investigates quantitatively the current and prospective earnings capacity of Italian banks. A bottom-up analysis of the 15 largest Italian banks suggests that the system is on the whole profitable, but that there is significant heterogeneity across banks. Many banks should become more profitable as the economy recovers, but their capacity to lend depends on the size of their capital buffers. However, a number of smaller banks face profitability pressures, even under favorable assumptions. There is thus a need to push ahead decisively on cleaning up balance sheets, including through cost cutting and efficiency gains.

Author : Asian Development Bank
Publisher : Asian Development Bank
ISBN 13 : 9292691163
Total Pages : 262 pages
Book Rating : 4.65/5 ( download)

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Download or read book Nonperforming Loans in Asia and Europe—Causes, Impacts, and Resolution Strategies written by Asian Development Bank and published by Asian Development Bank. This book was released on 2021-12-01 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: High and persistent levels of nonperforming loans (NPLs) have featured prominently in recent financial crises. This book traces NPL trends during and after crises, examines the economic impact of high NPLs, and compares the effectiveness of NPL resolution strategies across economies in Asia and Europe. The book distills important lessons from the experiences of economies using case studies and empirical investigation of ways to resolve NPLs. These findings can be invaluable in charting a course through the financial and economic fallout of the coronavirus disease (COVID-19) pandemic to recovery and sustained financial stability in Asia, Europe, and beyond.