Regulatory Alerts1994-03-03
CICR and Urgent DM Resolutions - Resolution of 3 March 1994
The Interministerial Committee for Credit and Savings (CICR) issued this resolution to revise the methodology for calculating reference rates on subsidized credit operations. It mandates replacing the previous bond-funding cost benchmark with indicators reflecting current market interest rate levels across industrial and other subsidized credit sectors. The Minister of the Treasury, upon the Bank of Italy's proposal, will subsequently define the specific parameters, implementation procedures, and any necessary adjustments, while retaining existing rules for bank ancillary commissions.
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