Head - Fabrizio Palmisani
The department helps to draw up the strategic guidelines for the development of the payment system in Italy, in accordance with the European and international frameworks. It therefore formulates policies for the supply of payment and settlement services by the Bank of Italy.
At the behest of the Eurosystem, the department manages, together with the Deutsche Bundesbank and the Banque de France, the TARGET2 single shared platform and contributes to the administration and development of European payment and settlement systems.
It has management and analysis responsibilities connected with the participation of the Bank and Italy's banking and financial system in European payment systems and the development of the clearing system, which the Bank manages at national level liaising with the participating intermediaries.
It provides payment and correspondent services to institutions and public sector bodies, administers contractual relationships with the Bank's correspondents and oversees the development of the service. It is involved in the running of the Interbank Register of Bad Cheques and Payment Cards.