Major industries – tourism, machinery, iron and steel, chemicals, food processing, textiles, motor vehicles, clothing, footwear, ceramics.
Banks (2010) - 760 banks; 33,640 branches; 318,949 employees; assets – EUR 3,808 trillion; loans – EUR 2,051trillion; deposits – EUR 1,631 trillion
Banking regulations - The business of banks and financial intermediaries in Italy is subject to extensive regulation, which is also intended to encourage correct and prudent conduct. It consists of laws, as well as resolutions adopted by the Interministerial Committee for Credit and Savings in accordance with Article 47 of the Constitution and Community law. The Bank of Italy issues technical provisions through circulars, regulations and supervisory measures. The Bank of Italy carries out checks of varying intensity on intermediaries. Some of the checks cover all of the different aspects of their business: satisfaction of the requirements to engage in the business, capital stability and sound and prudent management. In the latter case the Bank of Italy focuses on: the consistency of organisational arrangements, the quality of management, the control of risks, the adequacy of capital to cope with losses, the compliance with the law on transparency, money laundering and usury. The Bank of Italy is also responsible for issuing banking licenses.