Federcasse asks the Italian Parliament and Government to “promote an urgent and very determined initiative, aimed at obtaining a timely adjustment of the European banking regulatory framework” to allow cooperative credit banks “not to suffer unjustified competitive disadvantages”. This is what the leaders (president Augusto dell’Erba and chief executive officer Sergio Gatti) said in a hearing at the parliamentary commission of inquiry on banks. “In particular, the most important objective to be achieved – by improving the current regulatory design that saw the birth and operation of the two Cooperative Banking Groups Iccrea and Cassa Centrale – for Federcasse is the overcoming of the equation according to which banks less significant (with assets of less than 30 billion) that are part of a significant banking group (as happens for the individual BCCs belonging to the two members of the two Cooperative Banking Groups) are in turn classified as significant, with all the heavy regulatory consequences and supervision “.
“This would allow the mutual banks – explained dell’Erba – to have the forms of proportionality introduced, also on the impulse of Federcasse, in May 2019 recognized under the regulatory profile, as well as to be applied – from a supervisory point of view – practices and conduct in any case rigorous, but less onerous and more adequate with respect to the risk profiles and the rules of constitutional derivation envisaged by the Italian law on mutuality ». With regard to the issue of proportionality, for Federcasse this could be at least partially achieved through a specific legislative intervention as part of the ongoing revision of the European regulatory framework for the implementation of the final Basel 3 Agreements.