Derivatives and the Italian inquisition

New angles


Under Article 129 of the 1993 Banking Consolidation Act, the Banca d’Italia has supervisory powers over all capital transfers or flows of money totalling €50 million or more. Even before Parmalat, and Cirio, the major Italian corporate scandal of recent years, Banca d’Italia was apt to invoke its powers under Article 129 to restrict the terms product structurers could offer. For example, in 2003 it capped the coupons structured products could offer at 200% of the Libor rate

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: