9 March 2001, 13:54 Bank of Italy's Fazio says instability risks accumulated over yrs still exist
ROME (AFX) - Bank of Italy governor Antonio Fazio said that
potential risks of financial instability accumulated worldwide over the
past years still exist.
During a speech, Fazio said recent fluctuations in equity and
property prices could impact the solidity of financial institutions,
especially banks.
The risk of financial instability can be limited thanks to adequate
monitoring, he said, advocating a surveillance at national level.
An efficient monitoring "requires the availability of direct,
timely and in-depth information, closeness to the subjects under
surveillance and the knowledge of the environment in which they
operate," Fazio said.
Fazio also said that the arrival of foreign banks in Italy has
brought new skills, fostered financial innovation and intensified
competition
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