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 Conti di deposito 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 direct link:

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 7:00 a.m.–6.00 p.m. 9:00 a.m. – 5.00 p.m.
Number of settlement cycles per day CCBM transactions are settled in a continuous real-time free-of-payment procedure n.a.
Account of NCB in the SSS 61003 n.a.
HCB's sub accounts in the SSS (where applicable) n.a. n.a.
Matching requirements Yes n.a.
Matching/Settlement details CCBM instructions regarding the delivery of collateral are matched on a telephone basis between Banca d'Italia and the deliverer (custodian). Instructions are matched against the following items:
  • ISIN code of the asset
  • ISO code of the currency of the asset
  • Amount of the asset
  • Settlement date
  • Type of collateralisation: repo or pledge
  • BIC code of the counterparty
  • BIC code of the HCB
Special Operating Procedures n.a. See
Homepage of SSS