Updated list of Italian financial conglomerates subject to supplementary supervision, coordinated by the national competent authorities


Based on the provisions of the Coordination Agreement entered into on 31 March 2006, the Bank of Italy, IVASS and Consob have updated the list of Italian financial conglomerates i.e. groups of companies under common control whose exclusive or predominant activities consist of providing significant services in at least two different financial sectors (banking, securities, insurance).

The supervision of financial conglomerates is carried out pursuant to Legislative Decree 142/2005. This provides for supplementary supervisory instruments in addition to those used for sectoral supervision, with a view to systematically monitoring the capital adequacy and riskiness of each conglomerate as a whole, while taking account of the interconnections between the insurance and banking/financial activities of its members.

The list at 31 December 2018 comprises three financial conglomerates already subject to supplementary supervision last year. The Bank of Italy maintains its role as coordinator of one bank-led conglomerate, which includes institutions not categorized as ‘significant’, while IVASS is the coordinating authority for the two insurance-led conglomerates.

The list omits financial conglomerates comprising ‘significant’ institutions, whose identification is instead entrusted to the European Central Bank as part of the Single Supervisory Mechanism.

The updated list of conglomerates identified at 31 December 2018 is available on the websites of the Bank of Italy, Consob and IVASS.

Issue date
25 September 2019