Banca d'Italia's primary function is to ensure both monetary and financial stability, which are essential to sustained economic growth. Its activity comprises a range of commitments within the Eurosystem and worldwide.
Banca d'Italia's governance is founded on the principle of independence enshrined in European Union and national law and reaffirmed in its own Statute. The Statute provides that Banca d'Italia is governed by the Shareholders' Assembly, the Board of Directors, the Governing Board, consisting of the Governor, the Senior Deputy Governor and three other Deputy Governors, and the Board of Auditors.
As a supervisory authority, Banca d'Italia's independence from indirect interference by the shareholder institutions is guaranteed by long-standing laws that preclude any competence for the Board of Directors in credit and financial supervision (Article 5 of Legislative Decree 691/1947).
Banca d'Italia's membership of the European System of Central Banks and the functions involved in that membership are fundamental. The Governor's participation in the European Central Bank's Governing Council means that the duties performed and the powers exercised in that framework derive exclusively from that position.
Banca d'Italia's accounts are verified by an external auditing firm, as laid down in the Statute of the European System of Central Banks.
