Bank of Italy
The Bank of Italy was founded in 1893 as part of a complete reorganization of Italy’s banks of issue. In 1926 the public nature of the Bank was recognised when it became the sole institution authorized to issue banknotes. It was given powers of banking supervision that would be broadened and strengthened by the 1936 Banking Law, which also formally recognized the Bank’s status as a public law institution. This remained the fundamental legislation on Italian banking until 1993
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