Tutela del risparmio e regolazione delle crisi bancarie

Abstract

This paper aims to investigate the compatibility of the objectives pursued by the European legislation establishing a framework for the recovery and resolution of credit institutions with the principle of protection of savings. The recent regulation provides for the sacrifice of the interests of creditors (and also depositors) of the failing credit institutions in order to cope with the difficult situation. Although, in our opinion, the disciplinary framework of reference prepares adequate tools to safeguard the reasons of the investors, the latter does not seem to consider the complex and variegated factual situations present in our country. The results of the first applications of the new regulation on the matter have confirmed, in fact, the difficulty of carrying out, in term of concreteness, an effective balancing act between the various objectives pursued by the latter and the need to prepare procedures to protect the position of savers. Hence the need to proceed with a review of the matter, so as to avoid the adoption of measures justified by contingent situations (and therefore not adeguately considered) and to prevent possible situations of differences in treatment among creditors belonging to different banks.