Description |
1 online resource (18 pages) : illustrations |
Series |
IMF working paper, 2227-8885 ; WP/08/74 |
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IMF working paper ; WP/08/74.
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Contents |
I. Introduction; II. The Italian Cooperative Banking Sector; A. Structure of the Sector; Tables; 1. Cooperative Banking Sector in Selected European Countries; 2. Main Features of Italian Cooperative Banks; B. Sector Performance; 3. Italian Banks Performance Indicators; III. Discussion of Governance Reform Proposals; A. The Case for Governance Reform; B.A Proposal for Reform; Box; 1. Pros and Cons of Mandatory Conversion to Joint Stock Company; 4. Summary of Reform Proposals; IV. Cooperative Banks And Competition; V. Conclusions |
Summary |
This paper argues that the governance framework of cooperative banks may hamper raising capital, particularly at time of distress, complicating the bank resolution process--especially for large banks--and may not provide adequate incentives to control banks' management. Reforms should preserve the positive characteristics that make cooperative banks a valuable addition to the Italian financial system, while providing enough flexibility and incentives for banks to adopt a suitable governance model. Our empirical analysis suggests that cooperative banks may enjoy a higher degree of monopoly power than commercial banks. Thus, regulations and the enforcement of antitrust policies should ensure a leveled playing field |
Bibliography |
Includes bibliographical references (pages 17-18) |
Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
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Print version record |
Subject |
Banks and banking, Cooperative -- Italy
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Banks and banking, Cooperative -- State supervision -- Italy
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Banks and banking, Italian -- State supervision
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Banks and banking, Cooperative
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Banks and banking, Cooperative -- State supervision
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Italy
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Form |
Electronic book
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Author |
International Monetary Fund. European Department.
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ISBN |
1282448056 |
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9781282448056 |
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1451913893 |
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9781451913897 |
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9781451869361 |
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1451869363 |
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