His appointment as governor is for life, and he has control over competition issues as well as prudential supervision.

ECONOMIST: Italy's way with bank reform

In a draft letter, to congressional leaders, the Treasury said that "all (over-the-counter) derivatives dealers and all other firms whose activities in those markets create large exposures to counterparties should be subject to a robust regime of prudential supervision and regulation".

BBC: US plans derivatives regulations

These efforts include steps to improve corporate governance and banking practices, overhaul the legal frameworks, and strengthen prudential regulation and supervision of financial institutions.

CNN: REFORM IS CRUCIAL

And second, by prudential regulation and supervision to avoid certain excesses.

WSJ: Nouriel Roubini Says Nationalizing the Banks Is the Market-Friendly Solution