Regulatory Alerts1996-08-02
Deliberations of the CICR and Urgent DM - Deliberation of 2 August 1996
The Interministerial Committee for Credit and Savings (CICR) issued a deliberation on 2 August 1996 to establish a unified regulatory framework for the administrative organization and internal controls of banking intermediaries. The document mandates the Bank of Italy to issue supervisory instructions requiring banks to implement minimum organizational standards for internal audits, credit risk management, market risk handling, foreign branches, and payment instruments. These measures aim to ensure operational efficiency, prevent conflicts of interest, and maintain financial stability and transparency within the banking sector.
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