The Bank of Italy issued yesterday regarding the supervision of cooperative credit banks (Bcc). The new provisions, which come into force today, aim to "provide all those involved in the process of setting up cooperative banking groups (primarily the parent company and the mutual banks) with a clear, certain, complete and up-to-date regulatory framework", he explains. Via Nazionale.
“The regulations, which have already been submitted to public consultation (which ended on 10 November 2017) – continues the note from Bank of Italy – concern important profiles for the qualification of the CCBs as mutual banks of a local nature: the categories of shareholders and shares; the area of territorial jurisdiction in which the CCBs can gather members and carry out the activity; the obligation to operate mainly with shareholders and the limits on operations outside the area of competence; the activities that can be exercised and the shareholdings that can be held”.
The intervention, explains the Bank of Italy, "completes the reform of the cooperative credit banking sector", for the implementation of which the Bank of Italy had issued provisions in November 2016. Transitional regimes are envisaged to favor the gradual adjustment of the CBs to the more innovative aspects of the new discipline.
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The new rules will apply to the mutual banks from the date of registration of the cooperative banking group to which they belong in the register of banking groups.
