01944cas a2200253 a 4500 AALejournalIMF014743 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484387511 1018-5941 BD-DhAAL BD-DhAAL Jassaud, Nadege. Reforming the Corporate Governance of Italian Banks / Nadege Jassaud. Washington, D.C. : International Monetary Fund, 2014. 1 online resource (31 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 Sound corporate governance is essential for a well-functioning banking system and the integrity of financial markets. The paper discusses the corporate governance of Italian banks, its regulatory framework, and the specific challenges arising from the role played by foundations and large cooperatives. Although Italian banks have recently made progress in improving their corporate governance, more needs to be done. In this regard, further improvements should include: (i) strengthening further the existing banking regulations through stricter fit-and-proper rules for directors and controlling shareholders; (ii) implementing the new related party lending regulation with tightened definitions; (iii) strengthening oversight of foundations when they are the controlling shareholders in banks; and (iv) facilitating the transformation of large cooperatives into joint stock companies. Mode of access: Internet Italy imf IMF Working Papers; Working Paper ; No. 2014/181 Full text available on IMF http://elibrary.imf.org/view/journals/001/2014/181/001.2014.issue-181-en.xml IMF e-Library