Is your money safe? What Italians know about deposit insurance

The recent financial crisis has revived the debate on deposit insurance. Public awareness of its existence is essential in order to prevent a bank run. Analysing the results of three questions on this topic introduced in the last Survey on Household Income and Wealth, this paper investigates knowledge of the existence of the Italian deposit insurance scheme and its main characteristics among a sample of households. Evidence shows that knowledge of deposit insurance is poor: 70 per cent of the households in the sample are completely unaware of its existence, 23 per cent possess only basic knowledge, and just 7 per cent have detailed information. The available data allow us to outline possible determinants of deposit insurance awareness: the results highlight the importance of the Internet and of income and education, as expected; in addition, men seem to be better informed than women.deposit insurance, public awareness

The Financial System of the EU 25

We present an overview of the financial structure of the enlarged European Union with 25 countries. We start by describing the financial system development in all member states since 1995, and then compare the structure between the old and new countries. Using financial measures we document the prevailing substantial differences in the financial structure between new and old member states after the enlargement in 2004. Finally, we compare the financial structures of an enlarged EU with those of the United States and Japan.Financial System

Access to credit in times of crisis: measures to support firms and households

The financial crisis that started in August 2007 has led to a worsening in the conditions of credit supply to customers. Since the second half of 2008, several measures have been adopted in order to sustain access to credit for both firms and households, such as debt moratoria, provisions of guarantees on specific types of loans, and various forms of incentives to increase the supply of lending. The initiatives aimed at firms have been sizeable, involving financial resources up to as much as 5 per cent of total bank loans granted between the beginning of 2009 and September 2011. The corresponding value for households has been more modest, slightly above 1 per cent; this is mainly because of the strict qualification requirements applied to some of the initiatives and to their limited financial endowment.access to credit, debt moratoria, guarantee provisions

The Financial System of the EU 25

We present an overview of the financial structure of the enlarged European Union with 25 countries. We start by describing the financial system development in all member states since 1995, and then compare the structure between the old and new countries. Using financial measures we document the prevailing substantial differences in the financial structure between new and old member states after the enlargement in 2004. Finally, we compare the financial structures of an enlarged EU with those of the United States and Japan

Housing Finance in the Euro Area

This report analyses the main developments in housing finance in the euro area in the decade, covering the period from 1999 to 2007. It looks at mortgage indebtedness, various characteristics of loans for house purchase, the funding of such loans and the spreads between the interest rates on loans granted by banks and the interest rates banks had to pay on their funding, or the return they made on alternative investments. In addition, the report contains a comparison of key aspects of housing finance in the euro area with those in the United Kingdom and the United States. At the end, the report briefly discusses aspects of the transmission of monetary policy to the economy

Household wealth in a cross-country perspective

This paper provides a comparative analysis of household wealth in the United 6 States, the United Kingdom, Japan, France, Germany, Spain, and Italy. We start 7 by comparing national levels and composition of financial wealth, looking at the 8 instruments in which households invest: deposits, securities other than shares, 9 shares and other equity, mutual funds, pension funds, and insurance products. 10 We then discuss the empirical evidence on household indebtedness and real 11 assets across countries, providing a summary of the situation with regard to 12 total household wealth (i.e. net financial assets plus real assets). The analysis of 13 aggregate wealth is accompanied by an examination of micro data on household 14 asset participation and the distribution of household net worth. Finally, we study 15 some correlations and run a simple econometric exercise on the links between 16 household wealth and selected economic indicators, with particular focus on 17 saving

Does economic structure determine financial structure?

In this paper, we examine the relationship between the structure of the real economy and a country's financial system. We consider whether the development of the real economic structure can predict the direction of evolution of a country's financial structure. Using data for 108 countries, we find a significant relationship between real economic structure and financial structure. Next, we exploit shocks to the economies in India, Finland and Sweden, and South Korea and show that changes in the economic structure of a country influence the evolution of its financial system. This suggests that financial institutions and capital markets change in response to the structure of industries

Household wealth in a cross-country perspective.

This paper provides a comparative analysis of household wealth in the United 6 States, the United Kingdom, Japan, France, Germany, Spain, and Italy. We start 7 by comparing national levels and composition of financial wealth, looking at the 8 instruments in which households invest: deposits, securities other than shares, 9 shares and other equity, mutual funds, pension funds, and insurance products. 10 We then discuss the empirical evidence on household indebtedness and real 11 assets across countries, providing a summary of the situation with regard to 12 total household wealth (i.e. net financial assets plus real assets). The analysis of 13 aggregate wealth is accompanied by an examination of micro data on household 14 asset participation and the distribution of household net worth. Finally, we study 15 some correlations and run a simple econometric exercise on the links between 16 household wealth and selected economic indicators, with particular focus on 17 saving