Other functions

Listed below there are the functions assigned to the Central Bank of the Republic of San Marino in the past pursuant to other regulatory provisions other than the Statutes:

Banknotes and Coins. The Central Bank is active in the prevention of fraud and counterfeiting of Euro denominated banknotes and coins, through the systemic management of the authenticity and fitness checking, based on the provisions of the Monetary Agreement and in concert with the international authorities appointed for this purpose. Additionally, the CBSM manages the systemic needs as regards to the procurement and payment of cash, as well as the gathering of statistical information on the recirculation of cash.

Trust. In the field of trust, the Central Bank achieves three different functions: to supervise financial trustees (in cases where the office of trustee is exercised by a person authorized under the Law No. 165 of November 17, 2005); to check the existence and permanence of the requirements for the professional exercise of the office of trustee in the territory of San Marino, for the purpose of maintaining the Professional Trustee Register pursuant to the Delegate Decree No.49 of March 16, 2010; to keep the Register of the Trust pursuant to the Delegate Decree No.50 of March 16, 2010, and the Register of fiduciary shareholdings under Article 23-quinquies of Law No. 92 of June 17, 2008.

Register of fiduciary shareholdings. The institution of Trust Management in the Republic of San Marino is regulated by Law No. 43 of March 1, 2010. The Central Bank is responsible for maintaining the Register of fiduciary shareholdings in accordance with Article 23-quinquies of Law No. 92 of June 17, 2008.
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Custodian bank of the Supplementary welfare fund FONDISS. Law no. 191 of 6 December 2011, for the establishment in the Republic of San Marino of the supplementary welfare fund named FONDISS, assigned to the Central Bank of the Republic of San Marino the function of custodian bank of the relevant resources. Therefore, the CBSM, besides performing for FONDISS the Treasury functions related to the collection of welfare contributions and to the payment of the benefits, also performs the typical activities of a custodian bank; these activities are particularly important in terms of protection of the taxpayers and control.

Guarantee Fund for Depositors. The Fund is an asset with its own independent purpose, that is to say, it has complete financial autonomy from the Central Bank and guarantees the depositors, within the extent of its assets, with the possibility to resort to extraordinary contributions or external loans, in the cases of administrative compulsory winding-up of the participating banks.