Regulatory Alerts2000-07-25
Deliberations of the CICR and Urgent DM - Deliberation of 25 July 2000
The Interministerial Committee for Credit and Savings (CICR) mandates the Bank of Italy to issue instructions establishing minimum organizational requirements for financial intermediaries listed in the special register under Article 107 of the Banking Act. These requirements cover internal controls, credit risk management, investment selection, foreign exchange operations, card services, market risk in investment services, credit securitization, and non-quantifiable risks. The regulation aims to ensure operational efficiency, risk management capability, and transparency in relationships with clients.
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