Bank of Italy


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Bank of Italy

 

(Banca d’Italia), central bank of issue of Italy, controlled by the state. Founded in 1893. Until 1926 it issued bank notes jointly with the Bank of Naples and the Bank of Sicily, and since 1926 it has had a monopoly right to issue bank notes. Since 1936 it has been the bankers’ bank; that is, it provides credit only for banks and state financial institutions. The Interministry Committee on Credits and Savings, which was created under the bank, controls the activity of the country’s commercial banks, which since 1947 have been obligated to keep their reserves in the form of deposits or state securities in the Bank of Italy. On these deposits the bank can issue treasury notes. Currency control is exercised by the Italian Currency Bureau in conjunction with the Bank of Italy. The bank has (1969) 14 offices and 80 branches. At the beginning of 1969 the joint stock totaled 300 million lire. The total balance was 8,903 billion lire; the issue of bank notes, 5,390 billion lire; and deposits of credit institutions, 2,424 billion lire. At the beginning of 1969 gold reserves amounted to 1,827 billion lire, and foreign holdings, including holdings of the Currency Bureau, totaled 1,512 billion lire.

References in periodicals archive ?
A top official with the central bank of Italy has said that bail-in rules might not work well with the banking system.
Italy's Finance Ministry and the Bank of Italy on Sunday introduced a EUR 3.
This spring, the Bank of Italy approved two non-EU investors' acquisition of shareholdings in Monte dei Paschi di Siena, the oldest Italian bank.
The Bank of Italy is the central bank of the Republic of Italy and is responsible, among other issues, for the stability and efficiency of the financial system, regulating, co-ordinating, and controlling the provision of credit.
Dubai Financial Services Authority (DFSA) said it has entered into two important agreements with the Italian Securities and Exchange Commission (Consob) and Bank of Italy, in Rome.
0746 trillion euros in May, the Bank of Italy said in a monthly bulletin.
Turmoil at Italy's third-largest bank has rocked the financial establishment and raised difficult questions in the middle of an election campaign for the government and the Bank of Italy over how risky deals could have been hidden from regulators.
Representatives from Italy's Finance Ministry, as well as the central Bank of Italy and the Commissione Nazionale per le Societa e la Borsa (Consob), the country's (http://www.
The Bank of Italy denied Deutsche Bank's permission application Dec.
Summary: Italian Prime Minister Silvio Berlusconi's surprise nomination of Ignazio Visco to run the Bank of Italy sets up a possible clash with French President Nicolas Sarkozy over the composition of the European Central Bank's Executive Board.
They believe Italian banks measured by Core Tier 1 look stronger than rivals elsewhere because the Bank of Italy has been conservative on which types of funding can count towards it, in particular capping the amount of hybrid capital that can be counted towards it.
European Central Bank and the Bank of Italy got underway here on Wednesday