Regulatory Alerts2025-07-09
Instructions for the Detection of Average Effective Global Rates under the Usury Law (July 2016)
The Bank of Italy issued instructions to banks and financial intermediaries for detecting average effective global rates (TEGM) to enforce usury laws. These dispositions, effective from the fourth quarter of 2016, mandate the reporting of TEGM data which the Ministry of Economy and Finance publishes in quarterly decrees starting from the second quarter of 2017. The document also archives previous 2009 instructions and related Q&A documents for historical reference.
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