About Us

History

Banca d'Italia was founded in 1893 as part of an overall reorganization of Italy's banks of issue. In 1926, it became the sole institution authorized to issue banknotes and was given powers of banking supervision that would later be broadened and strengthened by the 1936 Banking Law, which recognized Banca d'Italia as a public law institution.

Functions and governance

Banca d'Italia's primary function is ensuring both monetary and financial stability, which are essential for sustained economic growth. Banca d'Italia's governance is founded on the principle of independence enshrined in European Union and national law and reaffirmed in the Bank's own Statute.

Organization

Banca d'Italia's organizational structure reflects the three levels at which it operates: international, national and local. The Head Office draws up and implements strategic, management and operational policies; at national level, Banca d'Italia has several branches located in the regional capitals and in some provincial capitals; it has representative offices abroad and financial attachés at some diplomatic representations.

The Eurosystem

The Eurosystem is the system of euro-area central banks responsible for implementing the single monetary policy. It comprises the European Central Bank (ECB) and the national central banks (NCBs) of the EU member states that have adopted the euro (Austria, Belgium, Croatia, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain).

Human Resources

Banca d'Italia staff are hired via a selective process involving public competitions open to all European Union citizens who meet the requirements for participation. When performing their duties, employees must comply with the general principles of the staff code of conduct, which is in line with Banca d'Italia's public status and the importance of the interests entrusted to it.

Working for Banca d'Italia

As an institution serving both Italy and Europe, Banca d'Italia offers a unique professional experience, enabling people to acquire technical and specialist skills, teamwork abilities, a results-oriented approach, and a method based on rigorous analysis. Within the organization, the Bank promotes diversity, an inclusive environment and workplace well-being by implementing measures to support a work-life balance.

Banca d'Italia and environmental and social sustainability

Climate change and environmental degradation, along with the policies adopted to address them, can impact the economy and finance, as they pose both physical and transition risks. Social conditions and corporate management factors can also create risks and opportunities. Within the scope of their mandate, central banks support the resilience of the financial system and the transition toward sustainability. Banca d'Italia has long integrated these objectives into its functions, and it analyses ESG risks at both national and international level.

Banca d'Italia for cybersecurity

Information technologies are crucial for citizens, businesses and institutions, and they also influence the financial sector via the digitalization of services and user habits. However, this increases exposure to cyber risk, such as errors, malfunctions, fraud and cyberattacks. Banca d'Italia and the relevant competent authorities work to ensure the security and proper functioning of the financial system including when these types of risks are present.

Ethics, prevention of corruption, transparency and personal data protection

This section contains information on ethical compliance, the prevention of corruption, transparency, and personal data protection, along with details on the respective staff responsible

Real estate assets

Banca d'Italia manages considerable real estate assets throughout the country. The preservation and improvement of properties plays a primary role in its real estate management. In this regard, Banca d'Italia focuses not only on the economic but also on the cultural value of its real estate assets, largely consisting of properties that are historically and architecturally unique.

The Historical Archives

Banca d'Italia's Historical Archives are one of the principal sources for the study of Italian economic and banking history over the past two centuries. The archives hold documents of prime importance on economic and monetary policy, the banking system, industrial history, local economies and international economic relations. They are also an important source for biographical, historical, political and architectural research.

The Library

Banca d'Italia's Library, founded in 1894, is divided into two sections: economic and legal. They separated in the 1930s, creating the Paolo Baffi Economic Library, dedicated to banking and financial subjects, and the Pietro De Vecchis Legal Library, specializing in banking law. In addition to providing Banca d'Italia's staff with information material and specialist literature, they are both open to the public, especially lecturers, researchers, economists, legal experts, experts from other institutions and university students.

Annual accounts

The annual accounts are approved by the Ordinary Meeting of Shareholders within the time limit established in Banca d'Italia's Statute. The Bank also publishes month-end financial statements.

Administrative proceedings and right of access

Banca d'Italia applies the provisions of Law 241/1990 as amended on administrative proceedings and the right of access to public records and documents. For each type of proceeding, Banca d'Italia identifies the deadline for completion and the internal division responsible. Interested parties can obtain information about ongoing procedures concerning them by contacting the department responsible, including through the online channels listed in the Contacts section of the website.

Administrative acts and agreements with other authorities

Like other independent authorities, Banca d'Italia carries out administrative functions through procedures that lead to the adoption of specific measures. This section also contains cooperation agreements and memorandums of understanding with other entities and government departments for the performance of their respective functions.

Shareholdings

Banca d'Italia publishes information on its shareholdings in unlisted companies. After each company's financial statements have been approved, Banca d'Italia provides information on the extent of its equity holding, the net profit/loss for the last three financial years, the number of its representatives on company boards and their annual remuneration.

Consultancy and professional collaboration contracts

Banca d'Italia publishes a list of external consultancy and collaboration contracts assigned to external professionals. The list is divided into two sections: consultancy and professional collaborations. The latter are further subdivided into contracts required by law and other collaborations. Information on the required services is provided for the most common types of contracts.

Tender procedures, contracts and electronic invoicing

The section contains tender notices and other information about Banca d'Italia's contract awards, in accordance with Legislative Decree 36/2023. Tender notices and other documentation for all tender procedures begun as of 1 January 2019 are only available on Banca d'Italia's e-tendering portal.