International reports and payment systems

The Central Bank maintains and manages relationships with supranational financial institutions, central banks, bank financial intermediaries and other entities consistent with its purposes and functions.
The Central Bank uses a network of correspondents capable of arranging and receiving transactions directly to and from abroad using financial messages in accordance with SWIFT (Society for Worldwide Interbank Financial Telecommunication) standards.
SWIFT provides messaging services employed by more than 11,000 financial institutions in more than 200 countries and territories around the world.
The Central Bank uses the European gross settlement system T2, which is responsible for the settlement of transactions in real time, participates in the Italian clearing system BI-Comp (Banca d'Italia-Compensazione) and is a member of the Single Euro Payments Area (SEPA) for the following payment instruments:

• SCT (SEPA Credit Transfer)

• SDD Core (SEPA Direct Debit Core).

In addition, the Central Bank adheres to the value-added service SEDA - AOS SEDA (electronic file alignment within the SDD instrument).
The Central Bank is implementing the technological transition to the ISO 20022 communication standard.

Summary of participation in international payment systems:

• T2

• BI-Comp

• Sepa Credit Transfer

• Sepa Direct Debit Core