Regulatory Alerts2005-07-19
Added · Updated
CICR and Emergency DM Deliberation - Deliberation of 19 July 2005, No. 1058
This regulation defines savings collection as the acquisition of funds with a repayment obligation and prohibits non-banks from collecting savings from the public, except under specific conditions. It establishes emission limits for financial instruments based on share capital and reserves, sets a minimum unit denomination of 50,000 euros for certain instruments, and restricts direct collection from members, employees, and within corporate groups to defined thresholds and eligibility criteria. The rules apply to joint-stock companies, limited liability companies, cooperatives, and financial institutions, with effective entry into force fifteen days after the publication of implementing instructions by the Bank of Italy.
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