Jump to ContentJump to Main Navigation
Banking, Currency, and Finance in Europe Between the Wars$
Users without a subscription are not able to see the full content.

Charles H. Feinstein

Print publication date: 1995

Print ISBN-13: 9780198288039

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198288034.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 13 December 2019

Italian Banking, 1919–1936

Italian Banking, 1919–1936

Chapter:
(p.296) 10 Italian Banking, 1919–1936
Source:
Banking, Currency, and Finance in Europe Between the Wars
Author(s):

Gianni Toniolo

Publisher:
Oxford University Press
DOI:10.1093/0198288034.003.0011

Examines the evolution of the Italian banking industry, with particular reference to the behaviour of the mixed (universal) banks, and to the relief operations that culminated in extensive state involvement in industry. The process began with the banking crisis of 1921–22, when the State used the Bank of Italy to rescue both—a major bank and a large industrial concern. In the 1920s, the banks acquired industrial stocks on a massive scale, and many ended with risky and illiquid portfolios. When industrial demand collapsed in 1931, there was the potential for a major banking crisis, and this was only averted by substantial secret loans and last‐resort credits to the banks from the State and the Bank of Italy. State ownership of the industrial concerns was formally recognized by the creation in 1933 of IRI (Istituto per la Ricostruzione Industriale), and the banking system was reorganized under the Banking Act of 1936.

Keywords:   banking crisis, banking system, banks, demand, industry, Italy, loans, relief, state ownership, stocks

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .