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BRRD will raise costs and threaten stability, BoI chief says

Italian governor criticises the application of the Bank Resolution and Recovery Directive (BRRD); the transition was too hasty and reform may be needed, he argues

Ignazio Visco
Bank of Italy governor Ignazio Visco

Bank of Italy (BoI) governor Ignazio Visco criticised the speed with which the Bank Resolution and Recovery Directive (BRRD) was implemented in Europe during a speech on January 30.

The new rules complicated the recent resolution of four Italian banks by the central bank, Visco told an audience in Turin. European Union member states should make sure the BRRD's provisions were brought in line with

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