Regulatory Alerts1994-03-03
CICR and DM Urgency Decrees - Deliberation of 3 March 1994
The Interministerial Committee for Credit and Savings issued this regulation to define the conditions under which non-bank entities may collect savings from the public without violating banking laws. The decree establishes specific limits and criteria for fund collection from members, shareholders, and employees, while authorizing the issuance of bonds, financial bills, and investment certificates under strict prudential supervision and guarantee requirements. It also outlines transitional measures, revokes previous incompatible regulations, and mandates the Bank of Italy to issue detailed implementation instructions.
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