Regulatory Alerts2008-07-29
CICR and Urgent DM Deliberation - Deliberation of 29 July 2008, No. 277
The Interministerial Committee for Credit and Savings issued Deliberation No. 277 to regulate risk activities and conflicts of interest between banks and affiliated parties. The regulation defines related and connected parties, imposes a maximum 20% limit on risk exposures relative to regulatory capital, and mandates objective evaluation procedures and internal controls. It also repeals previous conflicting regulations and grants the Bank of Italy authority to issue specific implementation rules.
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