Regulatory Alerts2003-03-04
Deliberation No. 287 of 4 March 2003: Implementation of Title V-bis of Legislative Decree No. 385/93 Concerning Electronic Money Institutes
The Interministerial Committee for Credit and Savings issued Deliberation No. 287 to implement EU directives on electronic money institutes (EMIs) by regulating capital participation, prudential supervision, and branch controls. The decree establishes specific criteria for authorizing share acquisitions, mandates minimum vigilance capital and risk containment measures, and defines the Bank of Italy's supervisory powers over EMIs and their Italian branches. It further outlines administrative organization requirements and the application of implementing provisions in harmony with Community law.
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