After handing over monetary policy in 1999 the European Central Bank, within the new European framework, the bank implements the decisions of this, coined the Euro and to eliminate the circulation of currencies.
The primary mission has become a banking and financial supervision. The aim is to ensure stability and efficiency of the system and enforcing the rules and regulations, the bank pursues this through legislation, monitoring and cooperation with government authorities.
Since the 2005 reform, which caused a few scandals root absorption between companies, the bank has lost the exclusivity of anti-trust authorities in the credit sector, shares this responsibility with the Italian Anti-Trust Authority. ” Other functions include the supervision of the market, taking care of payments and provision of supplies, state treasury, central credit registers, economic analysis and consulting institutions.
The Bank of Italy has some gold reserves estimated at 2.451.8 tons (2006).
Monetary Policy at the European Periphery: Greek Experience and Lessons for EU Candidates by Iannis A. Mourmouras, Michael G. Arghyrou, and J.v. Hagen (Kindle Edition – May 25, 2000) – Kindle Book