Circular No. 269 of 7 May 2008 - Guide for Supervisory Activities

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Guide for Supervisory Activities

Circular No. 269 ("Guide for Supervisory Activities") incorporates the methodological and procedural references for carrying out prudential supervision of banks and non-bank intermediaries (NBIs). Issued in 2008, the Guide is updated - as a rule - on an annual basis, in order to adapt the methodologies to the evolution of risks, incorporate best supervisory practices, and take into account the evolution of regulations and guidelines emerging in international forums.

Tasks related to client protection carried out by the Department for Client Protection and Financial Education, and those related to combating money laundering and terrorist financing carried out by the Supervision and Anti-Money Laundering Regulation Unit, do not fall within the scope of competence of the Guide. Furthermore, activities related to the resolution and liquidation management of banks and financial intermediaries assigned to the Resolution and Crisis Management Unit are also excluded.

Starting from the 17th update, a structural revision of the Guide was introduced. The new structure comprises 5 Modules (SREP and supervision of other intermediaries and bodies, Inspection Activities, Supervisory Action and Sanctioning Procedures, Administrative Proceedings, Organization and Coordination). For each module, three levels of content detail are provided: i) Level 1 illustrates general principles; ii) Level 2 collects more analytical aspects regarding supervisory methodologies and processes; iii) Level 3 includes more operational technical annexes.

The extract of Circular No. 269 currently available on the Bank of Italy website contains the general principles, the overall logic guiding analysis schemes and supervisory processes, as well as the criteria guiding portfolio and inspection supervisory actions. In a subsequent phase, also in relation to the evolution of the reference framework, possible expansions of the public version, the sharing of further initiatives to simplify processes and methodologies, and the development of further functionalities for searching and accessing content will be evaluated.

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