The Banca Nazionale di Credito (BNC, lit. 'National Credit Bank') was a significant bank in Italy during the 1920s. It was founded in 1922 to manage the liquidation of the Banca Italiana di Sconto (BIS), the country's third-largest bank that had failed the previous year. [1] In 1926, the Istituto Liquidazioni was established for the purpose of managing the legacies of failed banks, [2]: 414 and took over that activity from the BNC, [3]: 238 which nevertheless continued operating as a major bank.
Future Bank of Italy governor Donato Menichella worked at the BNC from 1924 to 1931. [4]
The BNC was still the country's third-largest bank in 1930, when it was purchased by Credito Italiano in what was then the largest-ever bank merger in Italy. [5]
See also
Notes
- ^ "Il progetto ufficiale di concordato della «Sconto»", Corriere della Sera, 8 March 1922
- ^ Costanza A. Russo (2012), "Bank Nationalizations of the 1930s in Italy: The IRI Formula", Theoretical Inquiries in Law (13.2)
- ^ Mario Sarcinelli (September 2007), "Donato Menichella: dal risanamento di banche e industrie allo sviluppo del Mezzogiorno", Moneta e Credito (LX:239): 233–257
- ^ "Donato Menichella". Banca d'Italia.
- ^ "La nostra storia - I nostri momenti chiave: 1930". UniCredit.
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