The objective of money market operations is to improve control over the Treasury payments account with the Bank of Italy, making it easier to manage the public debt and finance the state borrowing requirement.
The management of this account involves
- sharing information between the Bank and the Ministry of the Economy and Finance (MEF) concerning forecasts of the balance on the account so as to exert greater control over it and improve its predictability,
- carrying out money market operations with the banking system. These operations consist in tenders that the Bank of Italy manages on behalf of the MEF and in bilateral negotiations managed by the MEF itself or by the Bank of Italy on its behalf.