Basel III Financial Companies
Milan 21th September 2016
Following the legislative processes that deeply affected the national financial industry, the Bank of Italy was required to adjust the qualitative information structure (the so-called “data governance”).
This process, which began more than ten years ago, progressively evolved according to the financial crises occurred and to the related countermeasures undertaken by the competent Community authorities, which for the sake of brevity we will call “Basel III”.
Along this deep and innovative path, which has begun but not yet concluded, we also became aware of the significantly high level of capacity (and also of the related opacity) of the “financial risk”, in relation to the volumes managed by financial intermediaries.
This path thus followed by the Bank of Italy draws inspiration from the “Shadow Banking” concept, which highlights the need of a standardized and harmonized control by Community authorities.
Within the regulatory structure outlined with Basel III, the Bank of Italy itself moved the prudential supervisory provisions from a European level to a national one, through Circulars No. 288, 154 and 286.
As the first report concerning Basel III approaches, this meeting aims at setting the nodal points on which both production and control efforts are to be focused.
Therefore, this meeting is addressed to the staff of IT, Administration, Risk and Organization departments, as well as all the other departments within a firm that operationally affect those prudential areas.