Organization of the Bank of Italy's supervisory activities

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The Bank of Italy’s supervisory activities are carried out by the Directorate General for Financial Supervision and Regulation at central level and by the Bank’s branches at local level.

With the launch of the Single Supervisory Mechanism on 4 November 2014, the Directorate General was reorganized to make the controls on banks and financial intermediaries more effective.

The branches perform supervisory tasks regarding banking groups and banking and financial intermediaries operating mainly at local level (see Bank of Italy branches in charge of supervisory tasks: territorial jurisdiction). Besides being directly responsible for supervising intermediaries and acting as the local point of contact, the branches are entrusted with consumer protection (financial education, appeals to the Banking and Financial Ombudsman (ABF) and complaints).

The Bank of Italy Regulation of 25 June 2008 (currently being revised) and subsequent provisions designate the organizational units in charge of administrative proceeding within the scope of the Bank of Italy’s supervisory functions (see Organizational units in charge of administrative proceedings).

Organizational units in charge of administrative proceedings

The Bank of Italy’s supervisory activity takes the form of administrative proceedings in accordance with the provisions of Laws 241/1990 and 262/ 2005 in particular. In its Regulation of 25 June 2008, the Bank of Italy indicates, pursuant to Articles 2 and 4 of Law 241/1990, the terms and the organizational units responsible for administrative proceedings involving the exercise of banking and financial supervision.

The Regulation is in the process of being updated. Until this is completed, the relevant organizational units will continue to be identified following the guidelines contained in the Bank of Italy’s measures of 21 January 2014, on the organizational reform of the Bank of Italy’s Directorate General for Financial Supervision and Regulation, and of 22 September 2015 on the creation of the Resolution and Crisis Management Unit, published in the Gazzetta Ufficiale and on this website.

For the proceedings for which more than one organizational unit may be indicated in the list attached to Article 9 of the Regulation of 25 June 2008, financial intermediaries should consult the Registers and lists section on the Bank’s website to identify the relevant unit.

The abovementioned Regulation applies to the extent it is compatible with Regulations (EU) Nos. 1024/2013 and 468/2014 (see Bank of Italy Measure No. 568/2014).

Governing Board resolutions on the delegation of powers

The Governing Board of the Bank of Italy has delegated to the heads of the Directorate General for Financial Supervision and Regulation, Directorates, and Branches the powers to adopt provisions and acts in the field of banking and financial supervision pursuant to Article 21.5 of the Bank of Italy’s Statute (formerly Article 21.3).

The authorizations were granted by Resolution No. 99 of 10 February 2009, amended by Resolution No. 31 of 15 January 2013 and revised by Resolution No. 60 of 21 January 2014 in order to reflect the new organizational structure of the Bank of Italy’s Directorate General for Financial Supervision and Regulation.

Resolution No. 310 of 7 July 2015 conferred new powers relating to asset management procedures and modified a number of others granted in Resolution No. 99 of 10 February 2009.

Resolution No. 330 of 14 July 2015 conferred new powers for making capital adequacy decisions whereas Resolution No. 347 of 21 July 2015 conferred new powers for authorizing reductions in own funds and approving the capital conservation plan.