Banca d’Italia has issued an update on the supervisory provisions concerning banks’ corporate governance (Circular No. 285/2013).
The amendments are targeted at strengthening Italian banks’ governance structures and taking into account changes in European guidelines (the so-called CRD V directive and EBA Guidelines).
The amendments include the introduction of a minimum gender quota of 33% in the management and control bodies of banks and the raising of the asset threshold in the definition of a bank that is ‘smaller in size or operational complexity’ from 3.5 to 5 billion euros.