The Bank of Italy and the Banque de France sign a memorandum of understanding on financial innovation

Milano Hub and Le Lab, the innovation centres of the Bank of Italy and of the Banque de France, signed a memorandum of understanding (MoU) setting out the terms of their cooperation on initiatives of common interest in the field of financial innovation. The MoU was signed on 11 September 2023 in Milan by Alessandra Perrazzelli, Deputy Governor of the Bank of Italy, and Denis Beau, First Deputy Governor of the Banque de France. The two authorities reaffirmed their commitment to work together in order to promote and foster innovation within their respective remits and institutional roles.

The MoU includes a main section setting out the terms of the collaboration (e.g., joint events and outreach activities and exchanges of expertise and staff) and a technical annex, with a flexible structure that can be updated on an ongoing basis to identify specific areas of cooperation.