The Bank of Italy assists the Ministry of the Economy and Finance (MEF) in the management of the public debt. The Bank of Italy, on behalf of the MEF, organises and carries out placements/buy backs of government securities and debt service.
The Bank of Italy also helps to draft issuing policy, providing forecasts for coverage of the borrowing requirement through securities placements. This activity ties in closely with the forecasts of the banking system’s liquidity used by the European Central Bank to plan open market operations.
Lastly, the Bank of Italy makes financial calculations associated with government securities (see the “Interest Rates” sub-section).