The number of websites blacked out since July 2019 has thus risen to 663.
In particular, Bank of Italy has decided to keep the countercyclical capital buffer rate at zero per cent for the second quarter of 2022.
In the fourth quarter of 2021, the credit-to-GDP ratio decreased. The deviation from the long-term trend of the total credit-to-GDP ratio became negative by about 6 percentage points, if calculated based on the model developed by the Bank of Italy. Similar findings come from the bank credit-toGDP ratio.
The dynamics of the credit-to-GDP gap were influenced by the growth of GDP in the denominator, which was stronger in relative terms than growth in credit to the private sector. The increase in bank loans to households continued, mainly attributable to the rise in mortgages, accompanied by a recovery in the performance of credit to non-financial companies.
The other indicators indicate an improvement in the macro-financial conditions of the Italian economy. The NPL ratio decreased for firms, while it remained stable for households; the unemployment rate fell slightly, thanks to the decrease in the number of job seekers following the rise in employment, remaining below pre-pandemic levels; real property prices continued to increase.
(Only in Italian)
L’Unità di Informazione Finanziaria per l’Italia (UIF) ha pubblicato le casistiche di riciclaggio legate all’emergenza da COVID-19.

I casi rappresentati nascono sia da vicende individuate e segnalate dai soggetti obbligati, anche alla luce delle indicazioni fornite con le due Comunicazioni UIF del 16 aprile 2020 e dell’11 febbraio 2021 relative alla prevenzione di fenomeni di criminalità finanziaria legata all’emergenza, sia da operatività più complesse e articolate, ricostruite dall’Unità attraverso l’esplorazione, con evoluti metodi di analisi, del complessivo patrimonio informativo disponibile.
Sono inoltre ricomprese alcune fattispecie operative approfondite nel corso di collaborazioni con gli Organi investigativi e l’Autorità giudiziaria, nonché nel quadro degli scambi informativi e della collaborazione internazionale con le Unità di intelligence finanziaria estere.
This Final Reports contains two different sets of Guidelines:
  • firstly, amendments to the existing Guidelines on transfer of data between Trade Repositories under EMIR (ESMA70-151-552) and
  • secondly, the new Guidelines on transfer of data between Trade Repositories under SFTR.
Regarding the Guidelines under EMIR, this Final report introduces certain amendments and clarifications to the existing Guidelines on transfer of data between Trade Repositories in order to to maintain and strengthen the existing framework to port records from one Trade Repository (TR) to another under EMIR.
The Guidelines under SFTR are new Guidelines regarding SFTR reporting requirements in the context of porting to set up a framework to enable market participants to safely transfer data from one TR to another under SFTR.
ESMA has announced  a series of updates in relation to the recognition of central counterparties established in third countries (TC-CCPs) under EMIR (Regulation (EU) 648/2012).

The updates include the review of recognitions of TC-CCPs that were already previously recognised, the conclusion of revised Memoranda of Understanding (MoUs) with relevant third country authorities, as well as the first-time recognition of the National Securities Clearing Corporation (NSCC).
The Report’s analysis did not find any current major deficiencies in the functioning of the EU carbon market based on the data available.
However,  ESMA, based on its findings and observations, has formulated a number of policy recommendations on the transparency and monitoring of the EU carbon market from the securities regulators’ perspective, for instance:

  • extend position management controls to EUA derivatives;
  • amend EUA position reporting;
  • track chain of transactions in MiFIR regulatory reports; and
  • provide ESMA with access to primary market transactions.