Mattarella in remarks to IIEB delegates

'Banks key to sustainable development in our countries'

(ANSA) - Rome, October 23 - President Sergio Mattarella told a delegation from the Institut International d'Etudes Bancaires (International Institute of Banking Studies - IIEB) on Friday that a proper banking system is key to sustainable development.
    The IIEB groups the chairmen and chief executives of Europe's top finance houses.
    "An efficient, stable and inclusive banking system is an essential component for the sustainable development of our countries," he said in remarks at the Quirinal presidential palace.
    Trust is key to the functioning of financial markets, he added.
    "In order to recover it, we must pay ever more attention to transparency and sound behavior," he said. "It is essential that...the banking system not lose sight of its reason for being, its fundamental role, which is to enure efficient credit allocation to the economic and social system, thus contributing to the development and equal distribution of resources".
    Mattarella added that new banking regulations in the EU "must consider the aims of an inclusive finance oriented towards supporting growth".
    "Current low interest rates...are a precious opportunity to relaunch investments," Italy's president said.