Market practices in Italy

Name of National Central Bank Banca d'Italia
Phone number of the CCBM unit + 39 06 47 92 38 68
Fax number of the CCBM unit + 39 06 47 92 38 53
Foreign counterparties’ contact for credit claim related issues
+ 39 06 47 92 25 25
Publications describing local legal and operational procedures Sistema di gestione delle garanzie in pooling e dei depositi in titoli - Guida per gli operatori

Legal and Procedural Aspects
Procedural aspects governing a repurchase agreement with the NCB and legal documentation used (if applicable) There are neither specific procedural aspects nor specific legal documentation governing the receipt/delivery of the collateral to the Banca d'Italia for CCBM operations (for repurchase agreements or pledges at the HCB)
Procedural aspects governing a pledge towards the NCB and legal documentation used (if applicable)
Specific procedures governing non-marketable assets Terms and conditions

Technical Aspects Monte Titoli S.p.A. Banca d’Italia
Type of eligible assets held Bonds issued by central and local government, corporates and financial institutions Non-marketable assets
Opening hours Monte Titoli participates in T2S and follows the T2S calendar and Business Day schedule (see T2S UDFS v.2.0 chapter 1.4) 7:30 – 19:30 CET
Number of settlement cycles per day CCBM transactions are settled in the T2S real-time settlement window
Account of NCB in the SSS MOTIBITAITRRXXX6100300 n.a.
HCB's sub accounts in the SSS (where applicable) n.a. n.a.
Matching requirements Yes n.a.
Matching/Settlement details

T2S Mandatory matching fields

Furthermore, as Banca d'Italia adopted the Italian market practice on Party2 matching, the Party2 BIC codes (both of the Home Central Bank’s and the counterparty’s) have to be included in the instructions.
Central banks
Party 1 - CSD Participant: BITAITRRXXX
Party 2 - Client of the CSD Participant: MARKDEFFCCB
Party 1 – CSD Participant: CITIITMXXXX in field DEAG/ REAG
Party 2 - Client of the CSD Participant: BARCGB33XXX in field SELL/ BUYR
Special Operating Procedures n.a. More
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