CICR Deliberation No. 276 of 29 July 2008 on Shareholdings Held by Banks and Banking Groups

Interministerial Committee for Credit and Savings Secretariat

276

DELIBERATION 29 July 2008 Shareholdings held by banks and banking groups.

THE INTERMINISTERIAL COMMITTEE FOR CREDIT AND SAVINGS

HAVING REGARD TO Legislative Decree 1 September 1993, No. 385, and subsequent amendments, containing the Consolidated Law on Banking and Credit (TUB), and in particular:

• Article 1, paragraph 2, letter h-quater, which defines shareholdings as shares, stakes, and other financial instruments that confer administrative rights or, in any case, the rights provided for in the last paragraph of Article 2351 of the Civil Code;
• Article 53, paragraph 1, letters a), b), c), d) and d-bis), which assigns the Bank of Italy the task of issuing, in conformity with the deliberations of the CICR, general provisions concerning capital adequacy, risk containment in its various configurations, shareholdings held, administrative and accounting organization and internal controls, as well as information to be provided to the public on the aforementioned matters;
• Article 53, paragraph 2, according to which the provisions issued pursuant to paragraph 1 of the same article may provide that certain operations are subject to authorization by the Bank of Italy;
• Article 67, paragraph 1, letters a), b), c), d) and e), which, in order to exercise consolidated supervision, assigns the Bank of Italy, in conformity with the deliberations of the CICR, the power to issue to the parent company, with general or specific measures, provisions concerning the banking group as a whole or its components, concerning capital adequacy, risk containment in its various configurations, shareholdings held, administrative and accounting organization and internal controls, as well as information to be provided to the public on the aforementioned matters;
• Article 67, paragraph 2, according to which the provisions issued pursuant to paragraph 1 of the same article may provide that certain operations are subject to authorization by the Bank of Italy;

HAVING REGARD TO Article 13 of the Decree-Law 30 September 2003, No. 269, converted, with modifications, by Law 24 November 2003, No. 326, containing the "Regulation of the activity of collective guarantee of credit", and in particular paragraphs 29, 30 and 31, concerning banks constituted in the form of limited liability cooperative societies that, based on their statutes, predominantly exercise the activity of collective guarantee of credit in favor of members ("collective guarantee credit banks");

HAVING REGARD to the Ministerial Decree 22 June 1993, No. 242632, issued by the Minister of the Treasury – President of the CICR, on shareholdings held by credit institutions and groups;