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N° 9 September 2014

N° 9 September 2014

The road of Italian banks towards Europe Giovanni Sabatini E50, G21, G28 The integration process of the European single market is at a turning point, with the three pillars of the Banking Union. The legislative and fiscal dispar...

Re-securitization, a tool for recovery Giuseppe Zadra G01, G21, G28 The recent indications of the Bank of England and the European Central Bank show the benefits of qualifying securitization as a funding tool and risk contr...

Financial institutions regulation and systematic risk Giuliano Iannotta, George Pennacchi G18, G21, G28 Does a regulation based on credit ratings create an incentive to make loans and invest in bonds that have relatively high systematic risk? Using an interna...

The rise in savings, a consequence or a cause of Italian low growth? Paolo Savona E21, E22 Recent official figures on savings and investments in Italy cannot clarify the relationship between growth and savings, while it is clear that a key role i...

Good news, bad news: a proposal to measure banks’ reputation using Twitter Vincenzo Farina, Giampaolo Gabbi, Daniele Previati G21 Reputation is a special issue for financial institutions, particularly nowadays due to the great pressure they are facing as a consequence of the recent fi...

Risk culture and the recent guidance of Fsb Diana Capone, Stefano De Polis G21, G28 The Financial Stability Board has recently identified some foundational elements that contribute to the promotion of a sound risk culture within a financia...

Evaluating governance: optimal structure, composition and board self-evaluation Guido Cutillo, Fausto Orlando G21, G28, G34 This paper outlines an analysis model to define the optimal structure of the board in terms of composition, size and skills, in order to verify the quality...

Reverse mortgage, an instrument to help retirees Angelo Peppetti, Claudio Pacella G21, G28 A reverse mortgage is a loan available to homeowners older than 65 years, that enables them to convert part of the equity in their home into cash, retainin...

Financial services distribution: the evolution of business models in Italy Paola Musile Tanzi G21, M21 The effects of the financial crisis and the changes in the regulatory context will lead to a revision of business models for the distribution of financial ...