Bank crisis and due diligence laws need clearer Italian mandates
Banca d'Italia urges Italy's Senate to add specific mandates for implementing European bank crisis and corporate due diligence rules. It seeks clearer supervisory powers, sanctions and guidance on national options.
More funding routes for resolution
The Crisis Management and Deposit Insurance reform applies from May 11, 2028, with limited exceptions.
It broadens deposit guarantee scheme funding for bank transfers, including uninsured deposits, and relaxes the least-cost test for alternatives to depositor reimbursement.
For banks with assets up to €80 billion, scheme contributions can count toward the 8 percent bail-in threshold for Single Resolution Fund access.
Conditions include resolution designation for at least 24 months and loss absorption by eligible liabilities, subject to exemptions.
Depositor preference becomes harmonized, with little change for Italy.
Banca d'Italia requests specific legislative mandates covering national options, sanctions and its technical rulemaking powers.
Sustainability mandates leave a gap
Omnibus ESG narrows sustainability reporting and due diligence obligations to larger companies and simplifies requirements.
Banca d'Italia considers Article 6 adequate for Corporate Sustainability Reporting Directive changes, due by March 17, 2027.
It finds no specific mandate for the Corporate Sustainability Due Diligence Directive, due by July 26, 2028, even under Law 36 of March 17, 2026.
It requests criteria to designate supervisory authorities and define their powers; financial supervisors are an option under Article 24(6).
Financing is not completion
Banca d'Italia sees better resolution financing but says the framework still needs further progress.
It expects only a limited expansion of resolution, dependent on the public-interest assessment methodology.
It calls for a single deposit guarantee mechanism to complete banking union.