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Topic: Bank of Italy

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	CorpWatch : ITALY: Italy bank chief hands in resignation
		His decision, "autonomously taken with a clear conscience, is aimed at restoring calm in the higher interests of the country and of the Bank of Italy," the central bank said.
		The European Central Bank said in a statement that its president, Jean-Claude Trichet, was informed by Fazio on Monday of his intention to resign.
		The Bank of Italy came under fire last year for allegedly failing to heed signals that something was wrong at Parmalat before a massive fraud scandal engulfed the Italian dairy giant.
	www.corpwatch.org /article.php?id=12910 (941 words)

	Bank of Italy (USA) - Wikipedia, the free encyclopedia
		The Bank of Italy was founded in San Francisco, California in 1904 by Amadeo Giannini.
		The bank survived the San Francisco earthquake and fire of 1906 and was one of the first to offer loans to businesses to help rebuild the city.
		In 1929, Giannini arranged a merger between his bank and Bank of America, Los Angeles.
	en.wikipedia.org /wiki/Bank_of_Italy_(USA) (163 words)

	Index of Economic Freedom 2006 - Italy
		Italy's fiscal burden of government score is 0.3 point better this year; however, its banking and finance score and property rights score are both 1 point worse, and its informal market score is 0.5 point worse.
		As a member of the European Union, Italy was subject to a common EU weighted average external tariff of 1.3 percent in 2003, down from the 2.4 percent for 2002 reported in the 2005 Index, based on World Bank data.
		Italy's banking sector was dominated by the state until a recent spate of privatizations.
	www.heritage.org /research/features/index/country.cfm?id=Italy (1069 words)

	Borsa Italiana,Consob and the Bank of Italy. - Borsa Italiana
		In 1926 the Bank of Italy became the sole institution authorised to issue banknotes in Italy; however, the major change that occurred during the same year concerned the fact that, much earlier than in other legal systems, the bank was assigned formal powers of supervision over domestic banks.
		The Bank’s supervisory action is jointly regulated by the Consolidated banking law (Legislative Decree 385 of 1 September 1993) and the Consolidated law on finance (Legislative Decree 58 of 24 February 1998) which, respectively, govern banking activity and the sector of financial intermediation.
		The Bank of Italy is also the antitrust Authority for the credit sector with specific instruments at its disposal for preventing or authorising mergers that create dominant positions in the domestic and local markets, also intervening in cases of collusion between intermediaries.
	www.borsaitaliana.it /documenti/rubriche/sottolalente/chifacosa.en.htm (1105 words)

	Bank of Italy clears BNP Paribas proposal - Boston.com
		Italy's central bank said Monday it has cleared the proposal by France's BNP Paribas SA to acquire control of Italy's Banca Nazionale del Lavoro in the latest European bank takeover.
		The Bank of Italy said in a brief statement that it authorized the takeover after analyzing information furnished by the French banking group and after consulting with French banking watchdog authorities.
		Unipol's takeover bid was one of two at the heart of a politically tinged scandal that forced Bank of Italy chief Antonio Fazio to resign in December and also resulted in the arrest of several bankers.
	www.boston.com /business/articles/2006/03/20/bank_of_italy_clears_bnp_paribas_offer (457 words)

	Trade and Project Financing -- U.S. Commercial Service Italy
		Banks in Italy that have the authority to participate in foreign exchange usually have a U.S. correspondent.
		The Bank of Italy, Italy's central bank, is widely respected both nationally and internationally as a non-political overseer of the Italian economy, responsible for controlling inflation and balance of payments pressures.
		Italy has no restrictions on the amount of foreign exchange instruments, currency, or checks that may be brought into the country.
	www.buyusa.gov /italy/en/financing.html (1366 words)

	Investment Climate -- U.S. Commercial Service Italy
		Authorization by the Bank of Italy, the country's central bank, is required to acquire more than five percent of a financial institution's capital (or to gain effective control of a financial institution, regardless of the amount of capital acquired).
		Italy, like the U.S., is a signatory to the 1997 OECD Convention on Combating Bribery that was ratified in September 2000 (law 300/2000).
		The Bank of Italy estimates that the stock of total foreign direct investment in Italy at the end of 2001 was $121.2 billion, or 9.2 percent of GDP, of which U.S. investment amounted to $15.4 billion, 12.7 percent of total.
	www.buyusa.gov /italy/en/investment_climate.html (5942 words)

	BBC NEWS \| Business \| Bank of Italy governor steps down
		Under current Italian law, the governor of the Bank of Italy is entitled to remain in office for life.
		The pressure increased on Monday when Italy's Economy Minister Giulio Tremonti said he wanted parliament to change the laws governing the Bank of Italy, paving the way for Mr Fazio to be replaced.
		A spokeswoman for the Bank of Italy said Mr Fazio had handed in his resignation to a member of the bank's Superior Council earlier on Monday.
	news.bbc.co.uk /2/hi/business/4543012.stm (558 words)

	Bank of Italy chief resigns - Business - International Herald Tribune
		ROME Italy's central bank chief Antonio Fazio, who is under criminal investigation for alleged abuse of power, handed in his resignation Monday — pre-empting government efforts to get him out of office.
		His decision, ''autonomously taken with a clear conscience, is aimed at restoring calm in the higher interests of the country and of the Bank of Italy,'' the central bank said.
		The Bank of Italy came under fire last year for allegedly failing to heed signals that something was wrong at Parmalat before a massive fraud scandal engulfed the Italian dairy giant.
	www.iht.com /articles/2005/12/19/business/web.1219fazio.php (822 words)

	Bank of Italy chief faces ministers \| \| Guardian Unlimited Business
		The head of the Bank of Italy Antonio Fazio was yesterday forced to defend his handling of the two-way battle for an Italian bank when he appeared before a committee of government ministers in Rome.
		The central bank governor left the meeting without speaking to reporters but his 24-page report on the takeover bids was later released to the press.
		Critics say the scandal has damaged the credibility of the Bank of Italy and that reforms need to be made which would limit the term of the governor and make him more accountable.
	business.guardian.co.uk /story/0,3604,1557507,00.html (546 words)

	Al Jazeera English - Archive (Site not responding. Last check: 2007-10-25)
		The bank said in a statement: "The decision, made autonomously with a clear conscience, was taken to restore calm, in the greater interest of the country and the Bank of Italy."
		It is up to the Bank of Italy's superior council to pick the successor, with the government and president then asked to ratify the nomination.
		Fazio had led the Bank of Italy since 1993 and used to enjoy a spotless reputation as a wise manager of monetary policy as Italy battled to secure membership of the euro currency.
	english.aljazeera.net /NR/exeres/87DE8514-BF9F-4C90-B911-AF3163EB4B20.htm (403 words)

	SignOnSanDiego.com > News > Business -- Italy's central bank plans to cut 1/5th of staff by 2013 and close 75 ...
		Italy's central bank plans to cut 1/5th of staff by 2013 and close 75 percent of offices
		ROME – Bank of Italy officials said Tuesday they would cut staff by about one-fifth by 2013 and close 75 percent of the central bank's offices in Italy under a plan that was promptly rejected by the bank's unions.
		Most of Europe's central banks instituted cuts after the European Central Bank was founded in 1998 and the ensuing arrival of the euro.
	www.signonsandiego.com /news/business/20061031-1210-bankofitaly.html (410 words)

	The Banker: Italy (Site not responding. Last check: 2007-10-25)
		Italy’s reputation for institutional excellence is, to put it mildly, far from the country’s strong point.
		Takeover struggles for two Italian banks have laid bare the Bank of Italy’s powerful tinkering in the banking system as the country’s watchdog and the EU pull their mightier legal rank.
		Italian banking may be looking slightly tarnished and inward-looking after the Antonveneta affair (see article on Italy), but away from the limelight individual Italian banks are advancing their international presence.
	www.thebanker.com /news/categoryfront.php/id/194/Italy.html (816 words)

	Firstbanks.com - About Us - History of 550 Montgomery Street
		Built upon what is thought to be the landing place of Captain J. Montgomery in 1846 (before Yerba Buena Cove was filled in), this eleven-story Renaissance Revival structure served as the headquarters of A. Giannini's Bank of Italy (the predecessor to Bank of America) from 1908 to 1921.
		On October 17, 1904, with $300,000 of capital, Bank of Italy opened its first headquarters at Columbus and Washington in a building that formerly housed a saloon.
		Above the banking room, all of the floors have been arranged for offices and have remained for that purpose up to the present.
	www.firstbanks.com /About_Us/History/550montgomerySt.asp (572 words)

	Bank of America
		The Bank of Italy in Italy was created in 1893 through the merger of 3 of the 6 banks at the time: Banca Nazionale nel Regno d'Italia and 2 Tuscan banks.
		The Bank of England was founded by William Patterson after King William III of England found himself badly in need of funds to fight a war with France in 1694.
		The Bank of England was finally authorised in 1946.
	www.didyouknow.cd /banks.htm (343 words)

	Bank of Italy rejects Parmalat criticism (Site not responding. Last check: 2007-10-25)
		The head of the Bank of Italy rejected accusations that the central bank failed to heed signals that something was wrong at Parmalat before a fraud scandal erupted at the dairy giant.
		Fazio was largely defensive in his speech to a special parliamentary commission examining how Italy's eighth largest company wound up staggering under a scandal that saw bond holders lose large chunks of their savings.
		Earlier this month, Economy Minister Giulio Tremonti told the same commission that the Bank of Italy, which supervises the nation's banking sector, should have understood something was wrong at Parmalat.
	www.theage.com.au - !http: //www.theage.com.au/articles/2004/01/28/1075088064371.html (428 words)

	The Story of Bank of America: Biography of a Bank
		This is the captivating story of the Bank of America, still one of the world's largest banks, and the careers of the Gianninis, father and son.
		Before Giannini's Bank of Italy, the field was dominated by large, well-connected, and politically influential banks typified by the magnate J.P. Morgan's House of Morgan, which catered to corporations and wealthy industrialists.
		In 1930, the Bank was merged with the Bank of America National Trust and Savings Association, with Giannini appointed as chairman of the committee to work out the details of the merger.
	www.beardbooks.com /beardbooks/the_story_of_bank_of_america.html (1078 words)

	The Bank of Italy. (Site not responding. Last check: 2007-10-25)
		The Bank of Italy has lost much of its power regarding the European monetary policy since the introduction of the Euro.
		Nevertheless, the Bank of Italy has retained its power in Italy of controlling the italian banks.
		Governor Fazio, head of the Bank of Italy, has recently produced documents regarding the italian economic system, suggesting the need for competition and reform.
	www.geocities.com /fru20/bank2.htm (130 words)

	Italy-Activities (Site not responding. Last check: 2007-10-25)
		The recruitment team, in coordination with the World Bank offices in Washington and Paris, focuses on the identification and the pre-screening of candidates for Bank vacancies at Headquarters and in field offices in order to assure a qualified flow of diverse candidacies from Europe, the Middle East and Africa.
		The ITFCSD is used to support specific World Bank activities in the area of cultural and sustainable development such as : historic centers, cultural districts, museums and archives, intercultural dialogue, living culture and cultural industries, sponsorships and awareness-raising campaigns, special studies, and training.
		Italy participates in the Private Sector Liaison Officers Network, a joint initiative of the European offices of the World Bank, IFC and MIGA to strengthen the relationship between the World Bank Group and the private sector in Europe.
	wbln0018.worldbank.org /eurvp/web.nsf/Pages/Italy-Activities (2291 words)

	New Bank of Italy governor takes office - Boston.com
		New Bank of Italy Governor Mario Draghi formally took over his new job Monday, hoping to restore confidence after a takeover scandal tarnished the central bank's reputation.
		Fazio was accused of improperly favoring Italian banks over their foreign competitors in takeover battles, and is under investigation for abuse of power and insider trading.
		The Bank of Italy rejected the bid earlier this month, saying that the insurer did not meet its equity requirements for the takeover.
	www.boston.com /business/articles/2006/01/16/new_bank_of_italy_governor_takes_office (495 words)

	Relief as Italy's top banker withdraws - Business - Business - theage.com.au
		ITALY'S central bank governor, Antonio Fazio, has resigned over his role in a fast-growing financial scandal, ending a constitutional crisis that has riveted the country for six months.
		Mr Fazio said he was stepping down with a "clear conscience" for the good of the nation and the Bank of Italy.
		The autocratic governor ruled the Bank of Italy as a personal fiefdom for more than a decade under laws dating back to the Mussolini era, becoming an "institutional monster", in the words of the ex-finance minister.
	www.theage.com.au /news/business/relief-as-italys-top-banker-withdraws/2005/12/20/1135032016818.html (528 words)

	Bank of Italy chief resigns - International Business - MSNBC.com
		Bank of Italy spokeswoman Paola Ansuini said Fazio had turned in his resignation to a member of the bank’s Superior Council, which will decide Tuesday whether to formally accept it during a previously scheduled meeting.
		His decision, “autonomously taken with a tranquil conscience, is aimed at restoring serenity in the higher interests of the country and of the Bank of Italy,” a statement from the central bank said.
		The government was working on a reform of the central bank that would limit the term of the governor to five years.
	www.msnbc.msn.com /id/10531972/from/RL.1 (599 words)

	BBC NEWS \| Business \| Bank of Italy investigated by EU
		It comes after Dutch bank ABN Amro said the Bank of Italy tried to block its bid for Italian lender Antonveneta.
		The Bank of Italy was said to have wanted an all Italian merger instead.
		The bank's governor, Antonio Fazio, has been accused of abusing his position over the matter and has faced calls in Italy to resign.
	news.bbc.co.uk /1/hi/business/4465668.stm (336 words)

	Italy 2006 Public Holidays and Bank Holidays (Site not responding. Last check: 2007-10-25)
		This list of 2006 bank holidays, national holidays, legal holidays and public holidays for Italy, was generated by the Q++ Studio Diary Publishing System, using holidays recurrence rules that were fully reviewed on
		This database of bank holidays, national holidays and public holidays can also be viewed month-by-month rather than by country.
		For information not related to public holidays in Italy (maps, demographic and economic statistics,...), see the CIA World Factbook page for Italy.
	www.qppstudio.net /bankholidays2006/italy.htm (403 words)

	Anecdote - Amadeo Peter Giannini - Bank of Italy (Site not responding. Last check: 2007-10-25)
		He hurriedly dressed and hitched a team of horses to a borrowed produce wagon and headed into town - to the Bank of Italy, which he had founded two years earlier.
		Sifting through the ruins, he discreetly loaded $2 million in gold, coins and securities onto the wagon bed, covered the bank's resources with a layer of vegetables and headed home...
		With a wooden plank straddling two barrels for a desk, he began to extend credit 'on a face and a signature' to small businesses and individuals in need of money to rebuild their lives.
	www.anecdotage.com /index.php?aid=13764 (271 words)

	Bank of Italy information and related industry information from Hoover's (Site not responding. Last check: 2007-10-25)
		Established in 1893, the central bank has authority on fiscal issues ranging from setting monetary policy and interest rates to overseeing the country's banking industry and dealing with antitrust issues.
		Along with the Treasury, the Bank of Italy gained praise for orchestrating the changeover from the lira to the euro.
		In a sign that the bank is reversing its widely perceived resistance to foreign ownership, the Bank of Italy has approved BNP Paribas's bid for Banca Nazionale del Lavoro.
	www.hoovers.com /bank-of-italy/--ID__139932--/free-co-factsheet.xhtml (379 words)

	The Great American Landmarks Adventure
		You may not know the Bank of Italy, but you've probably heard of the Bank of America, which grew out of it.
		Amadeo Peter Giannini founded the Bank of Italy in San Francisco in 1904 and eventually made it one of the largest commercial banks in the world.
		The Bank of Italy has been known as the Bank of America since 1930.
	www.cr.nps.gov /hps/pad/adventure/bankital.htm (103 words)

	Amazon.com: "Bank of Italy": Key Phrase page (Site not responding. Last check: 2007-10-25)
		first issue directly, but his account suggests that the initial weakness of central banking was gradually overcome, partly because the Bank of Italy's position strengthened, partly because its chief, Stringher, began to redefine the bank's role in the country's financial system.
		the hostility to commercial banks on the part of the political establishment in Italy, and the relative weakness of the Bank of Italy, back to the pre-war Giolitti years.
		The introduction of the new currency was thwarted when the Bank of Italy...
	www.amazon.com /phrase/Bank-of-Italy (705 words)

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