Consob has ordered to be blacked out the following websites:

• GrouPolo LTD (website www.4capital.io);
• “Globalinvestous” (website https://global-investousfx.com and related page https://client.global-investousfx.com);
• Ingenue Consulting LLC (website https://tradon.pro and related page https://webtrader.tradon.cc);
• Bodacious Consulting LLC (website https://unionsmarket.group);
• “Tradebaionics” (website www.tradebaionics.com).

The number of websites blacked out since July 2019 has thus risen to 693.

Bank of Italy has released five new Working Papers (No. 1365-1369):

• No. 1369 – Public guarantees and credit additionality during the Covid-19 pandemic
• No. 1368 – Exchange rate pass-through in small, open, commodity-exporting economies: lessons from Canada
• No. 1367 – The role of non-bank financial institutions in the intermediation of capital flows to emerging markets
• No. 1366 – Monetary policy in the open economy with digital currencies
• No. 1365 – Foreign monetary policy and domestic inflation in emerging markets

and the No. 66 of the Newsletter on the economic research in Bank of Italy:

• Newsletter on the economic research No. 66 – May 2022

(Only in italian)

Il Ministero dell’Economia e delle Finanze, Dipartimento del Tesoro, ha posto in pubblica consultazione due schemi di regolamento concernenti i requisiti di onorabilità e i criteri di competenza e correttezza dei partecipanti al capitale degli enti creditizi e delle imprese di investimento, come previsto, rispettivamente, dal Testo unico bancario (TUB) e dal Testo unico della finanza (TUF).

I due schemi di regolamento posti in consultazione introducono profili nuovi rispetto ai decreti ministeriali attualmente in vigore, come i criteri di correttezza, che si aggiungono all’onorabilità, e di competenza, e rafforzano significativamente gli standard di idoneità dei partecipanti, elevando i requisiti già previsti dalla disciplina vigente. Ciò al fine di allineare la disciplina italiana agli orientamenti congiunti dell’ ESMA, EBA e EIOPA.

La consultazione terminerà il 27 maggio 2022.

ESMA has published its latest edition  of its Spotlight on Markets  Newsletter.

EBA has published an update to its Implementing Technical Standards (ITS) which specify the data collection for the supervisory benchmarking exercise of 2023 in relation to the internal approaches used in market and credit risk and IFRS9 accounting.

The updated ITS include all benchmarking portfolios and metrics that will be used for the 2023 exercise. The benchmarking exercise is an essential supervisory tool to monitor and enhance the quality of internal models, which are relevant for the assessment of the institution’s capital adequacy.

The exercise covers approved internal ratings-based (IRB) approaches used for own funds requirements calculation of credit and market risk, as well as internal models used for IFRS9.

For market risk, in order to keep the exercise informative, the data collection is extended to include the collection of new instruments and portfolios, in particular those recently applied by the industry. These new instruments are also accompanied by a more logical use of instruments references numbering in Annex V.

For credit risk minor changes were made to the benchmark portfolios and no changes to the data fields for reporting purposes. Minor clarifications are provided in the instructions in Annex IV on how to deal with changes in the definition of default.

No changes have been made to the IFRS 9 templates.
Bank of Italy has provided updates on the € -coin indicator.

€-coin declined in April to 0.61, from 0.77 in March.

Both the reduction in business and particularly in household confidence and the upward shift in the yield curve for euro-area bonds contributed to the indicator falling.