Banca d’Italia - Directorate General for Payments and market infrastructures

The Payment Systems Directorate helps define the strategic guidelines for the evolution of the payment system in Italy, in accordance with the European and international frameworks. In this context, it formulates policies for the provision of payment and settlement services, and collateral management by Banca d'Italia.

On behalf of the Eurosystem and together with the other provider central banks, it manages the integrated operational platform for the Target2 and Target2 Securities single shared platform and contributes to the management and development of European payment and settlement systems.

It plays an active role in the operational management and analysis relating to the participation of the Bank and of the Italian financial market in the European payment systems. It plays a similar role in the development of the national clearing system managed by the Bank, liaising with the participating operators.

It manages and is responsible for the processes classified as critical for the Bank's business continuity.

Number of employees: 122

Head:

Salvatore Luigi Alonzo
Head of the Payment Systems Directorate

The Treasury Services Directorate manages the functions of the State Treasury and liaises with the Ministry of Economy and Finance and other departments of central government.

The directorate provides a periodic statement of payments and receipts to the State Audit Office and other government departments.

It manages the State Treasury's digital services, the general government transactions information system (Sistema Informativo delle Operazioni degli Enti Pubblici - SIOPE) and the SIOPE+ platform, and monitors government payments.

It manages the Treasury Account and provides the ECB and the Treasury with the forecasts of government borrowing requirements and of the public balance.

It manages cash services for public authorities and manages the Treasury accounts of nearly all general government bodies.

It processes court orders preventing debtors, whether they be public or private entities, from accessing assets held at the Bank.

It manages processes classified as critical for continuity of the Bank's operations.

Number of employees: 111

Head:

Sandro Momigliano
Head of the Treasury Services Directorate

The Directorate performs the functions assigned to the Bank in the field of the regulation and supervision of money and financial markets, central securities depositories, central counterparty systems and companies, and systems for the clearing, settlement and guarantee of transactions involving financial instruments.

It defines the relevant policies.

It analyses the performance and development of the financial markets, the payment systems and the related support units; it collects, processes and disseminates the related statistical information.

It oversees the payments system and the payment infrastructures as part of the functions assigned to the Bank by Italian law and those deriving from its participation in the ESCB.

In coordination with the other departments of the Bank involved, it carries out the tasks of analysing and promoting technological innovation for the payment system and related infrastructures, the money and financial markets, and the post-trading infrastructures.

As the competent authority, the Bank performs the duties assigned to it in the relevant areas and It liaises with the other competent authorities in national, European and international fora to draw up and implement the guidelines and develop the relevant methodologies and tools.

It performs tasks connected with business continuity and cyber resilience in the financial sector and collaborates (in conjunction with the other departments involved), in financial market, national, Eurosystem and international initiatives. Working with the Bank's other units and the competent authorities, it monitors the relevant regulatory profiles and the implementation of test activities.

It defines the supervisory interventions on supervised subjects, in agreement with the Inspectorate Directorate.

It manages and is responsible for certain processes classified as critical for the Bank's business continuity.

Number of employees: 56

Head:

Giuseppe Grande
Market and Payment Systems Oversight Directorate

The Directorate analyses retail payment instruments and services, which comprises cash and related markets (including those for crypto-assets).

It performs the functions assigned to the Bank by Italian law and those deriving from its participation in the ESCB, in the field of oversight of retail payment instruments and services and related technology platforms.

It encourages and coordinates the activities related to the functioning of the Italian Payments Committee.

It runs the Interbank Register of Bad Cheques and Payment Cards.

It analyses financial and technological innovation in the payments market and, in this area, coordinates the management of the Bank's innovation facilitators and the initiatives undertaken by the Bank's functions relating to FinTech.

It liases with other competent Authorities in national, European and international fora to draw up and implement relevant guidelines.

It coordinates with the Inspectorate Directorate to determine the inspections of supervised entities to be carried out.

Number of employees: 50

Head:

Paola Giucca
Head of Retail Payment Instruments and Services Directorate

The Directorate analyses trends in currency circulation.

It monitors currency circulation, including via the Bank's branches, and implements the directives issued by the European System of Central Banks (ESCB).

It works to preserve the quality of the banknotes in circulation and to check that they are genuine. The National Analysis Centre for Italy is also part of the Directorate.

It oversees cash handlers and, in the case of service companies, it is also responsible for combating money laundering.

It holds banknotes, gold reserves and other Head Office valuables, it ensures the shipment of banknotes and coins to and from Banca d'Italia's branches and of banknotes the other National Central Banks in the Eurosystem, and carries out the related cashier operations.

It administers the securities and valuables owned by the Bank and third parties as well as those held on behalf of the Bank's branches. It manages the Bank's coin collections.

The Head of the Directorate enjoys the same powers attributed, based on the nature of the activities involved, to the Heads of Branch, pursuant to the relevant internal regulations. The role of interim Head of Currency Circulation Management cannot be assumed by the Heads of the units in charge of cashier operations.

It manages and is responsible for certain processes classified as critical for the Bank's business continuity.

Number of employees: 153

Head:

Gianmatteo Carlo Piazza
Head of the Currency Circulation Management Directorate

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Directorate General for Payments and market infrastructures

Sezione di approfondimento

Payment Systems Directorate

Treasury Services Directorate

Market and Payment Systems Oversight Directorate

Retail Payment Instruments and Services Directorate

Currency Circulation Management Directorate