Furthermore, to ensure the orderly reporting of refusals, a template is available to all the PSPs that operate in Italy and that are subject to the reporting requirements under the PSD2 Directive and the national legislation transposing the directive, so they can initiate the reporting process.
Bank of Italy reminds that PSPs are legally required to refund unauthorized payments immediately and, in any event, no later than by the end of the business day following that in which they become aware of the transaction. Nevertheless, the PSPs may withhold the refund in case of suspicion of fraud and immediately notify Bank of Italy of such in writing (paragraph 2 of Art. 11 of Legislative Decree 11/10 as amended).
(Only in Italian)
IVASS has published its Supervisory Bulletin – Year XI – No. 9 – September 2023.
Published in the Official Journal of European Union of 30 October 2023 the Directive (EU) 2023/2225 of 18 October 2023 on credit agreements for consumers (CCD II) and repealing Directive 2008/48/EC (Consumer Credit Directive – CCD).
In continuity with the CCD, the CCD II Directive defines the regulatory regime for consumer credit agreements.
In particular, the following profiles are regulated:
  • – information to be provided prior to the conclusion of the credit agreement;
  • tying and bundling practices, inferred agreement, advisory services and unsolicited granting of credit;
  • assessment of creditworthiness and database access;
  • form and content of credit agreements;
  • modifications of the credit agreement and changes in the borrowing rate;
  • overdraft facilities and overrunning;
  • withdrawal, termination and early repayment;
  • annual percentage rate of charge and measures to limit rates and costs;
  • conduct of business obligations and requirements for staff;
  • financial education and support to consumers in financial difficulties;
  • creditors and credit intermediaries;
  • assignments of rights and dispute resolution;
  • competent authorities.
The deadline for national transposition has been set for 20 November 2025.
ESMA has publishes an article on the evolution of the European share market structure from 2019 to 2022, following the implementation of MiFID II.
Specific focus is given to the impact of the UK’s withdrawal from the EU, given its pivotal role in equity markets.

The European market structure has changed in an important manner during the observed period. The important decrease in trading volumes observed after 2021 linked to the impact of the UK withdrawal was accompanied by four main changes:
  1. a decrease in the number of trading infrastructures, even though their number remains elevated;
  2. a shift in share trading distribution, both in terms of market types and countries;
  3. a concentration of trading in a few EU countries and trading venues;
  4. a relocation of domestic trading activities and a rise in the specialisation of trading venues.
EBA has published the technical package for phase 3 of version 3.3 of its reporting framework.
This provides the standard specifications that include the validation rules, the Data Point Model (DPM) and the XBRL taxonomies to support the new reporting on Interest Rate Risk in the Banking Book (IRRBB).