Regulatory Alerts1995-04-22
CICR Deliberation of 22 April 1995 on Circular Checks
The Interministerial Committee for Credit and Savings issued this regulation to redefine the legal framework for circular checks and similar instruments under Legislative Decree 385/1993. The Bank of Italy is authorized to set the collateral amount at no less than 20% of the value of checks in circulation and to determine the composition and valuation criteria for acceptable securities. This deliberation explicitly revokes numerous prior CICR resolutions and urgent Treasury Minister decrees to ensure competitive parity and align with the new banking legislation.
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