The reform of the supervisory authorities: the new role of the Bank of Italy

This chapter begins with an evaluation of the governorship of Mario Draghi, who took over from Fazio in 2006. Draghi's stance on the reform of the Bank of Italy, together with Governor Fazio's resignation, made possible a more open and competition-friendly approach to banking policy in Italy, as well as a reconfiguration of the Bank's governance structure. The research examines the background, causes, and effects of the reform, which must be contextualized within the broader institutional and policy evolution of the central bank.