Regulatory Alerts2024-12-04
Communication of 4 December 2024: Voluntary Application of CRR3 Provisions to Financial Intermediaries
The Bank of Italy issues a communication allowing Intermediaries 106 to voluntarily apply the new CRR3 prudential rules starting 1 January 2025 to avoid regulatory divergence costs. This temporary, irreversible option requires formal notification by 31 December 2024 and mandates adherence to specific reporting frameworks and transitional treatments. Intermediaries exercising this option must ultimately align with updated regulations under Circular 288/2015 once the permanent supervisory framework is established.
Share