European Economy

Banks, Regulation, and the Real Sector

  • Home
  • What is EE
  • Who is Who
    • Editorial Board
    • Scientific Advisory Board
    • Contributors
    • Association Friends of EE
  • ISSUES
  • Events
  • PRESS

Fabio Panetta

Member of the Governing Board and Deputy Governor of the Bank of Italy from 8 October 2012.
Member of the joint Governing Board of the Insurance Supervisory Authority (IVASS) as of 1 January 2013.
Member of the Board of Directors of the Bank for International Settlements (Basel) and Alternate to the Governor in the Governing Council of the European Central Bank (Frankfurt).
Member of the Supervisory Board of the Single Supervisory Mechanism at the ECB.
Member of the Committee on the Global Financial System and of the Board of Directors of the International Journal of Central Banking.
After graduating with honours in Economics from LUISS University (Rome) in 1982, he obtained an M.Sc. in Economics from the London School of Economics and a Ph.D in Economics and Finance from the London Business School.
He joined the Bank of Italy's Research Department in 1985, becoming head of its Monetary and Financial Division in 1999. From 2007 to 2011 he headed the Economic Outlook and Monetary Policy Department. In July 2011 he became Managing Director with the task of coordinating the Bank's activities relating to the Eurosystem and to financial stability. From 2010 to 2012 he chaired the editorial committee of the Bank of Italy's Financial Stability Report.
He has represented the Bank at various international organizations, including the OECD, the G10, the Bank for International Settlements (BIS), the European Central Bank and the International Monetary Fund. He has chaired international working groups within the G10, the BIS and other international institutions.
He has taught university courses in Economics and Finance. His research has been published in international scientific journals, including The American Economic Review; The Journal of Finance; Journal of Money, Credit and Banking; European Economic Review; Journal of Banking and Finance; Economic Notes; and Il Giornale degli Economisti.
He is the author of Il sistema bancario italiano negli anni novanta: gli effetti di una trasformazione (Il Mulino, 2004) and Il sistema finanziario e il Mezzogiorno. Squilibri reali e divari finanziari (Cacucci, 2006) with L. Cannari.
He is a member of the Società Italiana degli Economisti, the American Finance Association and the American Economic Association. In 2006 he was awarded the “Premio Giornalistico Internazionale Santa Margherita Ligure per l'Economia” as the best writer on economics.

The Coordination of Micro and Macro-Prudential Supervision in Europe

March 2, 2016 by Piergiorgio Alessandri and Fabio Panetta

With the creation of the Banking Union and the launch of a new macroprudential policy framework, banking supervision in Europe has become significantly more complex than it used to be. The coexistence of micro- and macro-prudential regimes that rely on similar tools to pursue different objectives may at times give place to conflicting policy interventions. This risk is structurally higher in bank-based economies with highly concentrated banking sectors. It may be further heightened in the contractionary phase of the cycle, when policymakers face a short-run trade-off between the resilience of the financial sector and the speed of the recovery. Coordination is thus a critical issue today in the euro area. In order to deal with it, supervisors need to agree on a ranking between their policy objectives, internalise the interactions between micro and macroprudential tools, and consider the general equilibrium effects of their interventions on the economy of the area.

From 2015.3 - Articles

CURRENT ISSUE

Central Banks Digital Currencies

READ MORE

European Economy
Banks, Regulation, and the Real Sector

Publisher
Associazione Centro Studi Luca d'Agliano

Copyright © 2025 · Author Pro Theme on Genesis Framework · WordPress · Log in

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Read More
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT