National Resolution Fund - Annual Report

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The National Resolution Fund was established by the Bank of Italy pursuant to Article 78 of Legislative Decree 180/2015.

Governed by Title V of Legislative Decree 180/2015, the Fund aims to enable the Bank of Italy, in its capacity as a National Resolution Authority, to achieve the resolution objectives as set out in Article 21 of Legislative Decree 180/2015, in compliance with the principles established in Article 22 of the same Decree.

The Fund has independent assets, completely separate from those of the Bank of Italy and from any other assets managed by the Bank, as well as from those of any entity that provided resources to the Fund itself.

An annual report is drawn up for the Fund and it is published by April 30th of the following year of the report.

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Resolution and crisis management

In implementing the European framework on bank crisis management, Banca d'Italia has been appointed National Resolution Authority (NRA) for Italy. A Resolution and Crisis Management Unit was set up, which performs investigative and operational tasks under the Single Resolution Mechanism, cooperates with the Single Resolution Board, and manages the liquidation and resolution procedures for banks and financial intermediaries.

Annual Accounts

The Bank of Italy’s annual accounts consist of the balance sheet, the profit and loss account and the notes to the accounts; pursuant to Article 37 of the Statute, there is also a report on operations and activities which is an integral part of the accounting and financial reporting and which provides useful information for a better understanding of the Bank’s overall activities.

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