Editing Bank of Italy (section)

=== The Banking Law of 1926 ===
[[File:Palazzo della banca d'italia (firenze) 01.JPG|thumb|Bank of Italy building in [[Florence]], built when the city was the capital of Italy (1865–1871)]]

Even with these strong regulatory and intervention powers, the fascist state allowed the crisis of the banks that were headed by the National Credit, the Popular Party bank, to worsen.

In this way, fascism, which equally aimed at the political control of monetary issuance, intended to strike one of the electoral strengths and of the business system that orbited around the industrial policy of the Catholic world, supported by credit institutions.

With R.D.L. 812 of 6 May 1926, the Bank of Italy obtained the exclusive right to issue the currency (the royal decree of 28 April 1910, no. 204 was thus repealed, which had confirmed the prerogative also to the Bank of Naples and the Bank of Sicily).<ref name="B&B">Graziella Buccellati Mantovani e Claudio Proserpio, ''La banca e la borsa'', Milan, Mondadori, 1978</ref>

The subsequent R.D.L. 6 November 1926 n. 1830 entrusted the Bank of Italy with the task of supervising savings banks. In 1928 the Bank was reorganized. The general manager was joined by a governor with greater powers.

Meanwhile, in 1926 the Subsidy Consortium had been transformed into a Liquidation Institute, still under the control of the central bank. In 1933 it was absorbed by the new Institute for Industrial Reconstruction, autonomous from the Bank of Italy.

While all the banks were in very bad conditions, the Banca Nazionale del Lavoro of the self-styled socialist Arturo Osio, in 1929 confiscated eleven Catholic banks, and in 1932 the Banca Agricola Italiana which had financed SNIA Viscosa di Gualino.<ref>Colajanni, ''Storia della Banca d'Italia''</ref><ref>{{cite book |title=Popolari, chierici e camerati|url=https://books.google.com/books?id=cNwCNrRBF7cC&dq=arturo+osio+socialista&pg=PA81|author=Giovanni Sale|via=google.it/libri|volume=1|page=81|date=2006| publisher=Editoriale Jaca Book |isbn = 9788816407251|access-date=5 April 2018|quote=Secondo l'on. [[Mario Augusto Martini]] [da non confondere col cardinale], la soluzione legislativa per ciò che appartiene alla terra doveva ottenersi in questo modo:<<Mantenuto il principio della proprietà privata, estendere il principio dell'espropriazione per cause di pubblica utilità alla causa di utilità sociale>>, naturalmente <<dietro equo indennizzo>>, perché ciò non apparisse come una vera espropriazione a danno dei proprietari, come invece volevano i socialisti. [..] Arturo Osio sostenne che l'espropriazione doveva avvenire dietro semplice richiesta dei lavoratori.}}</ref>