Regulatory Alerts2007-04-12
Urgent Decree of the Minister of Economy and Finance, President of the CICR, No. 213 of 12 April 2007
The Italian Minister of Economy and Finance, acting as President of the Interministerial Committee for Credit and Savings, issued Urgent Decree No. 213 to regulate the issuance of covered bonds by banks under Article 7-bis of Law No. 130/1999. The decree establishes key definitions for covered bond operations and mandates that supervisory rules issued by the Bank of Italy govern issuer requirements, asset eligibility, integration limits, and internal control mechanisms. These measures aim to ensure adequate capital adequacy, risk containment, and protection for creditors and depositors within the framework of European banking directives.
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