Regulatory Alerts2014-05-05
Decree of Urgency of the Minister of Economy and Finance, President of the CICR, of May 5, 2014, No. 167
The Italian Minister of Economy and Finance, acting as President of the Interministerial Committee for Credit and Savings, issued Decree No. 167 to define the criteria for identifying banking groups under the Banking Act. The decree mandates the Bank of Italy to establish specific parameters for determining the decisive relevance of shareholdings in banking and financial entities, ensuring alignment with EU regulations on financial conglomerates. It also introduces transitional measures for newly identified group holding companies and repeals previous regulatory provisions to facilitate a gradual adaptation to the new supervisory framework.
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