Regulatory Alerts1996-07-19
Urgent Decree of the Minister of the Treasury, President of the CICR, of July 19, 1996, No. 402093
The Italian Minister of the Treasury, acting as President of the Interbank Clearing Committee, issued an urgent decree to expand the scope of financial intermediaries authorized to conduct foreign exchange operations. The regulation empowers the Bank of Italy to authorize banks, securities intermediaries, and financial companies to perform currency transactions, aligning national rules with EU competitive standards and prudential risk management. This measure repeals specific provisions of the May 4, 1990 Ministerial Decree to enhance payment system efficiency and remove operational restrictions.
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