Regulatory Alerts2004-03-23
CICR Deliberation No. 692 of 23 March 2004
The Interministerial Committee for Credit and Savings (CICR) issued Deliberation No. 692 to amend the 1996 rules on administrative organization and internal controls for banking intermediaries. The regulation mandates the Bank of Italy to establish minimum organizational requirements and risk assessment methodologies for banks operating in complex and innovative sectors. It further requires banks to implement robust internal controls, credit risk management procedures, market risk structures, and specific safeguards for foreign branches and payment instruments.
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