The Guide for supervisory activities ('Circular 269') is the main reference for assessment methodologies and procedures relating to the prudential supervision of banks and non-banks. It was issued in 2008, and is generally updated annually, in order to adapt methodologies to evolving risks, to incorporate supervisory best practices, and to take account of regulatory developments and emerging international guidelines.
The Guide does not cover the consumer protection tasks performed by the Directorate General for Consumer Protection and Financial Education or the anti-money laundering and counter-terrorism financing tasks performed by the Anti-money laundering Supervision and Regulation Unit. Furthermore, it does not cover activities relating to the resolution and liquidation of banks and non-banks, which are assigned to the Resolution and Crisis Management Unit.
The Guide's new structure divides supervisory topics into five modules: SREP, on-site activities, supervisory measures and sanctioning procedures, administrative proceedings, and organization and cooperation. The modules are then subdivided into three levels of detail: i) level 1 illustrates the general principles; ii) level 2 contains the more analytical aspects of supervisory methodologies and processes; and iii) level 3 includes the more operational technical annexes.
The extract from Circular 269, which is currently available on Banca d'Italia's website, includes the general principles, the overall rationale for supervisory reviews and processes, and the criteria that guide off-site and on-site supervision. At a later stage, also in relation to how the framework evolves, possible expansions of the public version, the sharing of additional simplification's initiatives of processes and methodologies and the development of additional functionalities for research and access to content will be examined.
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