Banca d’Italia - Functions and governance

Skip to main content Open navigation menu Home page Cerca nel sito | EN IT Vai alla versione italiana Functions and governance Banca d'Italia's primary function is to ensure both monetary and financial stability, which are essential to sustained economic growth. Its activity comprises a range of commitments within the Eurosystem and worldwide. Banca d'Italia's governance is founded on the principle of independence enshrined in the European Union and national law and reaffirmed in its own Statute. The Statute provides that Banca d'Italia is governed by the Shareholders' Assembly, the Board of Directors, the Governing Board, consisting of the Governor, the Senior Deputy Governor and three other Deputy Governors, and the Board of Auditors. As a supervisory authority, Banca d'Italia's independence from indirect interference by the shareholder institutions is guaranteed by long-standing laws that preclude any competence for the Board of Directors in credit and financial supervision (Article 5 of Legislative Decree 691/1947). Banca d'Italia's membership of the European System of Central…