Regulatory Alerts2012-07-11
Deliberations of the CICR and Urgent Decree - Urgent Decree of the Minister of Economy and Finance, President of the CICR, of July 11, 2012, No. 663
The Minister of Economy and Finance, acting as President of the Interministerial Committee for Credit and Savings, issued an urgent decree to regulate banking risks and consumer credit contracts. The decree relies on legislative decrees 385/1993, 141/2010, and 218/2010, as well as Law 130/1999, to empower the Bank of Italy to impose general risk containment measures and reporting obligations on banks and credit securitization entities. These measures aim to census the debt positions of subjects involved in securitized credits and ensure compliance with financial intermediary regulations.
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