On July 15, the internal regulation of the “Committee for Macroprudential Policies” (the “Committee”) has been published on the websites of the participating authorities.
The Committee has been established pursuant to Legislative Decree No. 207 of December 7, 2023 – in implementation of a recommendation of the European Systemic Risk Board – to analyse risks to the stability of the financial system as a whole and defining strategies and intermediate objectives for this pursuit.
The Committee is composed of the Governor of the Bank of Italy, who chairs it, the Chairman of the National Commission for Companies and the Stock Exchange (Consob), the Chairman of the Institute for the Supervision of Insurance (IVASS), and the Chairman of the Pension Fund Supervisory Commission (Covip).
The internal regulation of the Committee consists of 11 articles that outline the meeting procedures of the participating members, the nature of the activities carried out, and the final provision that refers to the regulations Bank of Italy that shall apply as far as compatible.
The publication has been announced in the Official Gazette of the Italian Republic.