International relationships and Payment systems

The Central Bank holds and manages relationships with supranational financial bodies, central banks, banking financial intermediaries and other entities, consistently with its own purposes and functions.
The Central Bank avails itself of a network of correspondents capable of instructing and receiving transactions directly to and from abroad according to the standards SWIFT (Society for Worldwide Interbank Financial Telecommunication).
SWIFT messaging servicesconnects11.000 financial institutionsacrossmore than 200 cuntriesandterritories.
The Central Bank adopts the European gross settlement system T2, dedicated to the settlement of transactionsin real time, as well as the Italian clearing system BI-COMP (Banca d'Italia-Compensazione).
The Central Bank is a member of the single euro payment area (SEPA) as regards to the following payment instruments:

  • SCT (SEPA Credit Transfer)
  • SDD Core (SEPA Direct Debit Core)

Additionally, the Central Bank adopts the value added service SEDA - AOS SEDA (electronic alignment of the database within the context of the SDD instrument).
The Central Bank is implementing the technological transition to the international standard ISO 20022.
Summary of the participations in International Payment Systems:

  • T2
  • Bi-Comp
  • Sepa Credit Transfer
  • Sepa Direct Debit Core