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CODISE’s contribution to the rules and to monitoring

In the second half of 2004 the Banca d'Italia issued its business continuity guidelines for financial institutions (the supervisory instructions for credit institutions in July, the Market Supervision Office guidelines in October, the Payment System Oversight Office guidelines in November). In March 2007 the Bank released special business continuity standards for intermediaries' systemically important processes.

The guidelines mandate especially strict business continuity obligations for the services that CODISE deems "vital" and take interdependencies and priorities into account. The examination of intermediaries' business continuity planning by the Banca d'Italia units responsible for banking supervision, payment system oversight and market oversight has found an appreciable improvement in the resiliency of Italian financial market participants.