Unconventional monetary policies effects on the italian and European banks financial portfolio performances

The purpose of this thesis is to analyze what influence had the unconventional monetary policy, introduced by the ECB, on the proprietary portfolio of the top Italian and European banks. The events of recent years have caused a change in the banking institutions revenues, which, increasingly, had to rely on income from non-interest. In particular, the factors that led to the change in the banks’ management with a more traditional business model will be described and will then be compared to the European panorama. Will performed two econometric analysis, one focused on the Italian scenario and the other focused on the European scenario. To do this, a panel dataset will be used, built by extrapolating data from individual financial statements, for the Italian banks, and from the "Bankscope" database for the European banks. The results show that some macroeconomic variables resulted to be significant for both samples, while other variables, related mostly to the banking dynamics, have had a different incidence, depending on the nature of the banking institutions and the states in which they operate.