The official site of Italy's central bank

(9) Migration towards SEPA

The Italian Clearing and Settlement Mechanisms self-assessed their compliance with the criteria defined by the Eurosystem for the migration to SEPA. The evaluation is positive and the compliance process meets the SEPA deadlines. The disclosure of the evaluation, requested by the Eurosystem, is meant to support comparison of the self-assessments and of the European infrastructures, fostering competition among the latter.

The Bank of Italy, as manager of the BI-COMP retail payment system, and nine other European infrastructures have subscribed a joint statement calling for the adoption of SEPA Credit Transfers and SEPA Direct Debits as preferred payment instruments by public administrations and corporations and the setting of a final deadline for the replacement of the corresponding national instruments.