Italy created state mortgage institutions to rescue banks during the Great Depression

Evidence

Mortgage houses. The most important of these was the Istituto Mobiliare Italiano, formed in November 1931, during the Great Depression, which issued Government guaranteed bonds and provided investment loans to small and medium-sized commercial and industrial enterprises. The transformation of the Banca Commerciale took place at the same time, the Bank receiving Government help when it was in danger of collapse. — Antonio Gramsci, Selections from the Prison Notebooks, 2447