IMF Staff Country Reports

Italy: Detailed Assessment of Compliance with the Committee for Payment and Settlement Systems (CPSS) Core Principles for Systemically Important Payment Systems

Publication Date:

May 14, 2004

Electronic Access:

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Summary:

This paper presents findings of the Detailed Assessment of Italy’s Compliance with the Committee for Payment and Settlement Systems (CPSS) Core Principles for Systemically Important Payment Systems. At present, the Italian banking system is subject to significant challenges resulting from slowing economic growth, and low and declining interest rates, which have resulted in pressures on margins and a need to diversify sources of income. Banca d’Italia RTGS System for Large-Value Payments (BIREL) enables participants to make final and irrevocable transfers between the settlement accounts they hold with the Banca d’Italia.

Series:

Country Report No. 2004/132

Subject:

Banking Financial institutions Financial markets Financial regulation and supervision Legal support in revenue administration Operational risk Payment systems Real time gross settlement systems Revenue administration Securities