The official site of Italy's central bank

Functions

The main functions of the Bank of Italy are designed to ensure monetary and financial stability, indispensable conditions for lasting growth of the economy.

The Bank contributes to the decisions on the single monetary policy of the euro area and performs the tasks entrusted to it as a central bank forming part of the Eurosystem. It is responsible for implementing these decisions within Italy through operations with credit institutions, open market operations, standing facilities and the management of required reserves. It may carry out foreign exchange operations in accordance with the rules laid down by the Eurosystem. It manages the country’s own foreign exchange reserves and a part of those of the ECB on the latter’s behalf. It is responsible for producing the quantity of euro banknotes established by the Eurosystem, managing the currency in circulation and fighting against forgery.

The Bank promotes the smooth functioning of the payment system through its operation of the main circuits and by providing guidance, regulation and control under its oversight powers. This activity, coupled with market supervision, is intended to contribute to the stability of the financial system and foster the effectiveness of monetary policy.

The Bank performs services for the State by carrying out treasury operations (public sector receipts and disbursements), acting as agent for the public debt, and combating usury.

In order to increase the effectiveness of its performance of monetary policy tasks and other functions, the Bank undertakes a large volume of research in the economic, financial and legal fields.

As the supervisory authority, the Bank seeks to ensure the sound and prudent management of intermediaries, the overall stability and efficiency of the financial system and compliance with the rules and regulations of those subject to supervision.

The Bank contributes to banking and financial regulation, in part by participating in international committees. It coordinates its activity with the other financial supervisory authorities in various ways.

The Bank’s activity includes a high level of international commitments concerning central bank functions and financial stability in particular. It takes part in cooperation in the various groups and committees at European level and in multilateral fora. It also provides technical assistance to the regulatory authorities of emerging and transition countries.