Directorate General for Financial Supervision and Regulation

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Director General: Giuseppe Siani

Deputy Director General: Andrea Pilati
Deputy Director General: Ida Mercanti
Number of employees: 664

Regulations and Macroprudential Analysis Directorate

The Directorate monitors developments in national and international legislation regarding financial supervision and liaises with Parliament, the Government, the Regions and the other government entities, as well as with supervisory authorities.

It draws up and updates for all supervised entities the rules governing supervision, prudential warnings and individual and consolidated balance sheets, assisting the other Directorates of the Directorate General in these matters.

It guarantees the coordination of the work carried out in the various international fora regarding supervisory matters; it coordinates and helps to draw up the Bank's position to be represented abroad; it manages institutional relations with foreign supervisory authorities regarding matters of general relevance.

It carries out studies and analyses on macroeconomic and financial topics, including scenario analyses and system-wide stress tests, and it develops the corresponding methodologies.

It assesses the economic effects of supervisory regulations on the activity of banks, financial intermediaries, firms and the general public.

It coordinates the work carried out in the Directorate General regarding the preparation of the annual report on financial supervision and the Report on Operations and Activities of the Bank of Italy.

It cooperates with the Resolution and Crisis Management Unit in preparing, updating, and analysing the impact of the regulations on resolution proceedings.

It develops methods for the financial analysis and evaluation of supervised entities and draws up procedures and operational criteria to be applied in its supervisory activity, in conjunction with the other Directorates of the Directorate General.

It carries out risk analysis in coordination with the other units of the Directorate General.

Number of employees: 98

Head:

Banking Supervision 1 Directorate

In compliance with the rules governing the Single Supervisory Mechanism, the Directorate monitors the technical situation of Italian banking groups and of foreign banking groups present in Italy and supervised directly by the ECB, as well as the situation of the financial intermediaries belonging to those groups, with the exception of asset management companies (SGRs), and contributes to shaping supervisory interventions on these institutions. The Directorate contributes to the Supervisory Review and Evaluation Process, analyses the risks and the risk management systems of banking groups and financial conglomerates and, in conjunction with the other units concerned, validates the internal risk models.

It monitors the early intervention measures applied to the banks and banking groups within its remit and assists in preparing resolution plans.

It liaises with the Resolution and Crisis Management Unit.

It carries out additional supervision tasks on financial conglomerates in cooperation with other authorities and in coordination with the ECB.

It monitors the situation of banking groups, stand-alone banks and Italian branches of non-EU countries or of EU countries that have not joined the Single Supervisory Mechanism. It performs its interventions in its capacity as national competent authority.

It carries out analyses to support the Bank of Italy's role in the ECB's decision-making regarding intermediaries subject to the SSM.

Number of employees: 105

Head:

Banking Supervision 2 Directorate

In compliance with the rules governing the Single Supervisory Mechanism, the Directorate monitors the technical situation of the banking groups and banks that are not supervised directly by the ECB, as well as the situation of the financial intermediaries belonging to those groups, with the exception of asset management companies (SGRs), and carries out supervisory interventions on these institutions. It manages the Supervisory Review and Evaluation Process, analyses the risks and the risk management systems of banking groups and financial conglomerates and, in conjunction with the other units concerned, validates the internal risk models.

It implements early intervention measures regarding the banks and banking groups within its remit, evaluates their recovery plans, and assists in preparing resolution plans.

It liaises with the Resolution and Crisis Management Unit.

It coordinates the supervisory activities carried out by the Bank of Italy's branches on decentralized banks.

Number of employees: 83

Head:

Financial Supervision Directorate

The Directorate conducts supervision by monitoring the technical situation of financial intermediaries, managing the supervisory review process and carrying out supervisory interventions on:

  • non-bank financial intermediaries and recognized regulatory bodies under Titles V and VI-bis of the Consolidated Law on Banking;
  • non-bank financial intermediaries engaged, exclusively or predominantly, in securities intermediation or the creation and distribution of financial and investment products, and undertakings for collective investments in transferable securities (UCITS).
  • electronic money institutions (EMI) and payment institutions (PI).

It carries out early interventions on the financial intermediaries within its remit, evaluates their recovery plans and assists in preparing resolution plans.

It liaises with the Resolution and Crisis Management Unit.

It coordinates the supervisory activities carried out by the Bank of Italy's branches on decentralized non-bank financial intermediaries.

Number of employees: 57

Head:

Inspectorate Directorate

In compliance with the rules governing the Single Supervisory Mechanism, the Inspectorate Directorate carries out inspections of banking groups and stand-alone banks. It conducts the same activities in relation to non-bank financial intermediaries and other entities subject by law to inspections by the Bank of Italy.

It plans and carries out inspections in cooperation with the Bank's units concerned and within the framework of cooperation with the other competent national and foreign authorities.

It is responsible for the administrative tasks connected with reviewing, managing and keeping inspection reports.

In conjunction with the Directorates concerned, it performs the checks related to the validation of internal risk models.

In the performance of its tasks, the Inspectorate Directorate may avail itself of staff other than inspectors.

It liaises with the Resolution and Crisis Management Unit.

Number of employees: 164

Head:

Supervisory Institutional Relations Directorate

The Directorate liaises with judicial authorities, other national authorities and investigative bodies.

It coordinates the examination of parliamentary questions.

It manages aspects of communications that are relevant for supervisory purposes.

It manages the information systems of the Directorate General regarding banks and financial intermediaries, it provides computational and statistical support to the Directorates that make up the Directorate General and to the Resolution and Crisis Management Unit; it keeps the registers of banks and financial intermediaries.

In compliance with the rules governing the Single Supervisory Mechanism, it carries out the tasks connected with analysing and managing the irregularities detected in the course of supervision.

It liaises with the Resolution and Crisis Management Unit.

It serves as secretariat to the Interministerial Committee for Credit and Savings (ICCS).

It carries out the necessary activities for granting banking licenses and market access.

It manages aspects of financial and technological innovation, and coordinates the related activities.

It carries out analyses and interventions on supervised intermediaries in matters relating to usury, money laundering and the financing of terrorism, liaising with the competent supervisory units of the Bank, and collaborates with the relevant authorities.

Number of employees: 133

Head: