Italy: Financial Sector Assessment Program: Detailed Assessment of Observance of the IMF Code of Good Practices on Transparency in Monetary and Financial Policies: Payment Systems Oversight

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 077

Publication date: March 2006

ISBN: 9781451819915

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Topics covered in this book

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Banks and Banking , Finance , Public Finance , ISCR , CR , BI statute , mission statement , role of the Banca d'Italia , Payment systems oversight , BI staff , BI publication , Banca d'Italia e , Payment systems , Financial statements , Clearing and settlement systems , Legal support in revenue administration , National payment systems

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Summary

This paper discusses a Detailed Assessment of the Observance of the IMF Code of Good Practices on Transparency in Monetary and Financial Policies for Payment Systems Oversight for Italy. The Banca d’Italia’s (BI) oversight of payment systems is characterized by high levels of transparency, benefiting from clarity in the European Union-wide institutional framework, and actively contributing to its timely disclosure of policy developments and exchange of information. The BI routinely discloses the progress toward achieving its policy objectives, and engages in two-way communication with the markets.