Regulatory Alerts2005-12-22
Circular No. 262 of December 22, 2005: Bank Financial Statements: Schemes and Compilation Rules
The Bank of Italy issued Circular No. 262 to establish the individual and consolidated financial statement schemes and compilation rules for banks and group parent financial companies in compliance with IAS/IFRS standards. The regulation mandates the preparation of specific financial reports, including the balance sheet, income statement, and cash flow statement, while requiring intermediaries to include additional IAS/IFRS information in the notes where not explicitly covered by the Circular. The document has undergone multiple updates, most recently in November 2022, to address evolving accounting standards and regulatory requirements such as IFRS 17 and crisis resolution measures.
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Bank Financial Statements: Schemes and Compilation Rules
The Circular contains the provisions governing, in conformity with the requirements of international accounting standards IAS/IFRS, the individual and consolidated financial statement schemes (balance sheet, income statement, statement of comprehensive income, statement of changes in equity, and cash flow statement), the notes to the financial statements, and the management report that banks and parent financial companies of banking groups are required to produce.
Intermediaries shall include in the notes to the financial statements the information required by IAS/IFRS that is not referenced by Circular No. 262, in compliance with those standards.
Text of the circular
17 November 2022
Full text at the 8th update of 17 November 2022
PDF 11 MB
(applied starting from the financial statements relating to the financial year closed or ongoing as of 31 December 2023)
17 November 2022
Act of issuance of the 8th update
PDF 204 KB
02 November 2021
Full text at the 7th update of 29 October 2021
PDF 10 MB
(applied starting from the financial statements relating to the financial year closed or ongoing as of 31 December 2021)
02 November 2021
Act of issuance of the 7th update
PDF 221 KB
In-depth section
Publication Date: 14 March 2023
Update of the provisions of Circular No. 262 - "Bank Financial Statements: Schemes and Compilation Rules" pdf 370 KB regarding the impacts of COVID-19 and measures to support the economy
Publication Date: 27 October 2022
Joint Communication Banca d'Italia/CONSOB/IVASS on the information to be provided in the 2022 financial statements on the transition to IFRS 17 pdf 521 KB
Publication Date: 21 December 2021
Update of the integrations to the provisions of Circular No. 262 "Bank Financial Statements: Schemes and Compilation Rules" ABROGATED pdf 342 KB regarding the impacts of COVID-19 and measures to support the economy
Publication Date: 16 December 2020
Integrations to the provisions of Circular No. 262 "Bank Financial Statements: Schemes and Compilation Rules" ABROGATED pdf 811 KB regarding the impacts of COVID-19 and measures to support the economy and amendments to IAS/IFRS
Publication Date: 03 August 2020
Anti-Mafia Code (Legislative Decree 6 September 2011, No. 159) pdf 207 KB Reflections on the credit quality classification of companies subject to seizure and/or confiscation orders. Clarifications
Publication Date: 10 June 2020
Start date of application of the new default discipline pdf 25 KB
Publication Date: 23 December 2019
Financial statements of banking and financial intermediaries closed or ongoing as of 31 December 2019 pdf 40 KB
Publication Date: 26 June 2019
Supervisory statistical reports and bank financial statements: modifications related to "Credit Quality" ABROGATED pdf 209 KB
Publication Date: 15 March 2019
Financial statements of banks and other supervised financial intermediaries not applying international accounting standards pdf 58 KB
Publication Date: 12 November 2018
Financing operations against the transfer of severance pay (TFS). Clarifications on reporting criteria pdf 29 KB Communication of 5 November 2018
Publication Date: 31 October 2018
Dynamics of gross credit exposures and overall value adjustments pdf 108 KB treatment in financial statements and supervisory reports
Publication Date: 17 March 2017
Financing operations against the assignment of the fifth of salary and pension. Clarifications on reporting criteria pdf 73 KB Communication of 17 March 2017
Publication Date: 07 March 2017
Targeted Longer-Term Refinancing Operations (TLTRO) with the ECB pdf 33 KB Treatment in supervisory reports and financial statements
Publication Date: 25 January 2017
Additional contributions to the National Resolution Fund: treatment in financial statements and supervisory reports pdf 83 KB
Publication Date: 22 January 2016
Supervisory statistical reports and financial statements pdf 353 KB
Publication Date: 20 January 2016
Contributions to resolution funds: treatment in financial statements and supervisory reports pdf 29 KB
Publication Date: 12 November 2015
Procedures for the composition of over-indebtedness crisis and liquidation for non-bankrupt subjects. pdf 44 KB Reflections on the credit quality classification of debtors
Instructions for the preparation of the financial statements of the company and the consolidated financial statements of banks and parent financial companies of banking groups
Link to the Official Gazette
Publication Date: 30 November 2018
Full text at the 6th update of 30 November 2018 pdf 3 MB applied starting from the financial statements relating to the financial year closed or ongoing as of 31 December 2019
Publication Date: 22 December 2017
Full text at the 5th update of 22 December 2017 pdf 3 MB applied starting from the financial statements relating to the financial year closed or ongoing as of 31 December 2018
Publication Date: 15 December 2015
Full text at the 4th update of 15 December 2015 pdf 2 MB applied starting from the financial statements relating to the financial year closed or ongoing as of 31 December 2015, with exceptions
Publication Date: 22 December 2014
Full text at the 3rd update of 22 December 2014 pdf 3 MB applied starting from the financial statements relating to the financial year closed or ongoing as of 31 December 2014, with exceptions
Publication Date: 21 January 2014
Full text at the 2nd update of 21 January 2014 pdf 1 MB applied starting from the financial statements relating to the financial year closed or ongoing as of 31 December 2013, with exceptions
Publication Date: 18 November 2009
Full text at the 1st update of 18 November 2009 pdf 1 MB applied starting from the financial statements relating to the financial year closed or ongoing as of 31 December 2009, with exceptions
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