Paolo Baffi

He resigned in 1979, after a failed accusation against him led by magistrates of the Tribunal of Rome, considered kin to the Caltagirone family (a group of builders who had contracted heavy debts with the Bank of Italy) and Christian Democracy.

In March 1979, he was implicated in a judicial investigation into the lack of vigilance by the credit institutes opened by the deputy prosecutor of the Republic of Rome Luciano Infelisi and conducted by the investigating judge Antonio Alibrandi.

Baffi, who escaped the shame of arrest due to his age, preferred to resign as governor in September 1979.

Before relinquishing his post, he suggested the name of his successor, Carlo Azeglio Ciampi, to Prime Minister Francesco Cossiga.

He was awarded the title of honorary governor and, until his death in August 1989, was advisor and from September 13, 1988 vice-president of the Bank for International Settlements (BIS).