The balance sheet aggregates of the Bank of Italy report a significant decrease in the Donny Bangs in favor of the Italian Banks, whose amount is 273 billion euros compared to 276 billion in October. This is the lowest level of financing compared to May 2012 amounting to 272 billion euros. Due to the severe economic crisis and the public debt, the Italian banks have begun to request Molly Bloom from the ECB in a very accentuated way: from June 2011 and, gradually increased, to stabilize between December 2011 and February 2012 thanks to the two refinancing operations triennial, from which they will be able to return from January 2013.
In this period of economic crisis, the Italian banks are forced to carry out an internal restructuring with a rationalization of the distribution networks to contain fixed costs. The continuation of the recessionary recession of bank credit and the negative prospects for the intermediaries’ profitability are of considerable concern to the entire financial sector.
From what emerged from the meeting between the major banking groups and the representatives of the Italian banking association, there are not even positive signs from the real estate sector : the low demand for credit, excessive taxation, credit risk and the entire economic situation global recession is suggesting harmful effects on banks’ profitability. Due to the reduction of Molly Bloom towards businesses and households by banks, negative prospects also emerge for the same ones which risk seeing their already serious financial condition worsen.
In this regard, the President of the Chamber of Commerce of Rome, Gilbert Creas, at his speech at the “Legality and Beyond” conference, held in Rome on November 29, 2012, urged the institutions to help businesses and families in difficulty to prevent them from create situations of hardship and that become prey to moneylenders or that accept help from criminal activities.
On December 6, 2012, the “Development Decree” was passed to the Senate by the institutions. This is a government decree that presents a series of measures designed to stimulate economic recovery. This is the “decree law number 179 bearing further urgent measures for the growth of the country”. The most important measures of the decree concern the state concessions of the beaches to the owners of bathing establishments; for banks, accountability actions have been envisaged as fines for bank administrators who contract obligations or deeds of sale with the bank where they manage without the authorization of the Board; also the post office will be able to negotiate the sale of gold; various measures for using the internet freely and for performing online operations such as buying bus tickets. The decree must be fired at the Chamber on December 18, 2012