Social sciences and humanities
Subject: LAW OF BANKING AND FINANCIAL INTERMEDIARIES (A.A. 2022/2023)
Unit Diritto della banca e degli intermediari finanziari
Company Law (lesson)
The course aims to deepen the legal discipline of banking law and financial intermediaries with particular regard to business activity, the supervision of credit authorities and banking contracts. At the end of the course, the student must demonstrate that he has assimilated the knowledge relating to the discipline of banks, in terms of their organization and operations, as well as the regulation of relations with customers. A further training objective is represented by the examination of the legal profiles of the main contracts and the most frequent financial transactions carried out by credit institutions in modern financial market law.
Knowledge of the fundamental notions of private law and commercial law is recommended.
The course (totaling 6 CFU) is divided into a “General Part”, having as its object the analysis of the rules mainly of public law aimed at regulating the banking company in its various phases from birth to resolution of crisis situations in which can be found, and in a "Special Part" dedicated to the study of the private law rules governing the provision of banking services and credit operations of which a bank is part.
General Part (2 CFU)
In this section of the course the following topics will be analyzed:
1. Origins and sources of banking and finance law.
2. The banking firm and its business.
3. Financial intermediaries: the different types of banks and non-bank financial intermediaries.
4. The credit authorities and their functions: the “Comitato interministeriale per il credito e il risparmio” (the C.I.C.R.); the Minister of Economy and Finance; the Bank of Italy; the “Sistema Europeo delle Banche Centrali” (the S.E.B.C.); the “Banca Centrale Europea” (the B.C.E.).
5. Supervision of the Bank of Italy: Information Supervision; the Inspection Supervision; the Regulatory Supervision; Supervision of Mergers and Demergers, Aggregate Disposals; the Supervisory Capital.
6. The bank crisis: the Bank's recovery plan; the Bank's Extraordinary Administration; the Bank Resolution procedure; the compulsory administrative liquidation of the Bank.
Special Part (4 CFU)
In this section of the course the following topics will be analyzed:
1. The collection of savings: the bank deposit; certificates of deposit and interest-bearing bonds; subordinated and irredeemable loans; repurchase agreements; the issue of ordinary bank bonds; subordinated bonds and hybrid capitalization instruments.
2. Banking contracts and the activity of loan disbursement: the safety deposit box service; the ordinary mortgage; the mortgage loan; the purpose mortgage; loans to companies with privileges pursuant to art. 46 Tub; credit on pledge; the opening of bank credit and signature credits; the bank discount; advances on credits or improper discounts; bank advance; bank transactions settled on current accounts; the bank account.
3. Credit and financing agreements: definitions and conceptual categories.
4. Customer protection: banking transparency; the form of bank contracts; banking compound interest; out-of-court dispute resolution systems (L’A.B.F.).
5. Bank guarantees: the pledge; the surety; the autonomous warranty contract; the letters of patronage; the assignment of claims as collateral; the irrevocable mandate for collection.
6. Leasing: nature and structure of the contract; financial leasing; translation leasing; sale and lease back.
7. Loan disposal activities: the law on the transfer of business loans (Law no. 52/1991); factoring; the assignment of receivables from public administrations; the securitization of credits or securitization.
8. Credits: general aspects; the bill of exchange, bank and cashier's check.
The teaching activity takes place in the first semester and consists of 42 hours of lectures in italian language dedicated to the development of the course program and the achievement of the educational objectives illustrated. A complete theoretical discussion of legal issues will be accompanied by an analysis of the application profiles that are found most in operating practice. The lessons will illustrate the positive discipline of the various institutes, with constant reference to national and supranational regulatory sources. Attendance of the lessons is strongly encouraged in order to allow the full achievement of the educational objectives. The course will take place on campus, compatibly with sanitary provisions and consequent measures.
The exam takes place through an oral test lasting an average of 20 minutes consisting of two or three broad-ranging and non-mnemonic questions, of which at least one on the Special Part, in addition to any further specific questions where it appears necessary to better evaluate the candidate, to which the student will have to answer with a short exposition. The test is aimed at verifying the acquisition and correct understanding of the proposed teaching material. The evaluation criteria will take into account: critical knowledge of the topics covered, the use and mastery of a technical-legal language, the ability to connect the acquired knowledge and the ability to interpret the most relevant regulatory sources. Exams will take place on campus, compatibly with sanitary provisions and consequent measures.
At the end of the course, the student who has successfully learned the subject will have an in-depth knowledge of the topics and will have acquired a method of reasoning suitable for dealing with specific and complex legal issues relating to banking law and financial intermediaries.
In particular, the expected results from the teaching are the following:
Knowledge and understanding: through the lessons and in-depth study of the teaching material, the student will be able to acquire adequate knowledge and an effective understanding of the rules that make up the legal system of reference for the activities of banks and non-bank financial intermediaries.
Applied knowledge and understanding: students will be able to apply the knowledge acquired and understand and solve problems related to the actual operation of banks and non-bank financial intermediaries, also with reference to customer relations.
Autonomy of judgment: students will have to know how to use the acquired knowledge both on a conceptual and operational level with autonomous assessment skills and skills in the different application contexts, also orienting themselves in the evaluation of the different theories and in the solution of practical problems.
Communication skills: students will be able to acquire the technical language typical of the discipline in a clear and unambiguous way with specialist and non-specialist interlocutors.
Learning abilities: through the lessons in the classroom and the problems that will be submitted to them by the teacher during the same, students will be able to develop adequate learning abilities that will allow them to continue to deepen independently the main issues of the discipline, especially in professional contexts in which they will find themselves working on, acquiring the technical and cultural tools of the jurist profession.
- P. BONTEMPI, Diritto bancario e finanziario, VII ed., Milano, Giuffrè, 2021.
- Slides a cura del docente.