01765cas a2200241 a 4500 AALejournalIMF004981 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451869361 1018-5941 BD-DhAAL BD-DhAAL Gutierrez, Eva. The Reform of Italian Cooperative Banks : Discussion of Proposals / Eva Gutierrez. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (18 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper argues that the governance framework of cooperative banks may hamper raising capital, particularly at time of distress, complicating the bank resolution process ?specially for large banks?and may not provide adequate incentives to control banks' management. Reforms should preserve the positive characteristics that make cooperative banks a valuable addition to the Italian financial system, while providing enough flexibility and incentives for banks to adopt a suitable governance model. Our empirical analysis suggests that cooperative banks may enjoy a higher degree of monopoly power than commercial banks. Thus, regulations and the enforcement of antitrust policies should ensure a leveled playing field. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2008/074 Full text available on IMF http://elibrary.imf.org/view/journals/001/2008/074/001.2008.issue-074-en.xml IMF e-Library