Procedure di destagionalizzazione dei depositi bancari mensili in Italia

The seasonal behaviour of bank deposits is to a large extent influenced by interest payments. In Italy this problem is particularly serious because, in the past, interests on bank deposits were paled only once a year (in December). The seasonally of bank deposits thus changes over time and it is highly correlated with the level of interest rates. This paper shows that the standard XllARIMA procedure is unable to remove seasonally from the series of Italian bank deposits and suggests several suitable alternatives

Bank Lending Rates and Financial Structure in Italy

This paper discusses the relation between the financial structure and the determination of bank lending rates in Italy. It notes that the high degree of stickiness of bank lending rates observed in Italy in the past was related to constraints on competition within the banking and financial markets. In this light, it discusses the effect on the lending rate determination process of the sweeping financial liberalization process that characterized the last few years. The paper discusses also the role of the discount rate in speeding up the adjustment process of bank interest rates, and the pros and cons of its possible indexation. The empirical analysis is characterized by use of microeconomic (individual bank) data for a group of 63 Italian banks operating in locally different financial environments. This approach allows the identification of some aspects of the relation between financial structure and lending rate stickiness that were not highlighted in previous studies.

Bank Lending Rates and Financial Structure in Italy: A Case Study

The paper notes that the high degree of stickiness of bank lending rates observed in Italy in the past is related to constraints on competition within the banking and financial markets. Using individual data for 63 local Italian banks in a variety of financial environments, it discusses the effect on the lending rate determination process of the recent sweeping financial liberalization in Italy. The paper also discusses the role of the discount rate in speeding up the adjustment process of bank interest rates, and the pros and cons of its possible indexation.