Regulatory Alerts1993-08-09
Decree of the Minister of the Treasury, President of the CICR, of 9 August 1993, No. 242826
The Italian Minister of the Treasury, in agreement with the Minister of Foreign Affairs and hearing the Interministerial Committee for Credit and Savings, issued this decree to establish general criteria for authorizing the first branch in Italy for non-EU credit institutions. The authorization process requires evidence of adequate home-country supervision, information-sharing agreements, prior consent from home regulators, and attestations of the parent bank's financial solidity and organizational adequacy. Authorized branches are permitted to conduct specific activities consistent with those performed in their home country, subject to prudential limits set by Italian authorities and implementation rules issued by the Bank of Italy.
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