The Bank of Italy's new Statute came into force on 4 August 2022, following its publication in the Gazzetta Ufficiale.
The main changes concern: the raising of the threshold for participation in the Bank's capital, as per the 2022 Budget Law, from 3 to 5 per cent, as of 1 January 2022; the introduction of measures for a better functioning of the statutory organs; the removal of obsolete provisions; and a new division of the responsibilities for the control functions on the Bank's accounts between the internal audit board and external audit firms.
