Bank of Italy adopts new statute

The Bank of Italy has approved a new statute proposed by governor Mario Draghi, La Stampa reported Friday 28 July. One new measure will see the directorate increasing from four to five members.

Alongside the governor and managing director will now sit three, rather than two, deputy MDs. This should allow decisions to be taken more quickly and in a more transparent manner, La Stampa said.

Managing director Vincenzo Desario is standing down early from his post and will be replaced by Fabrizio Sac

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