Banking regulation and oversight debates intensify in San Marino and Italy

In San Marino, the opposition party Repubblica Futura has raised concerns regarding the management and oversight of the Central Bank of the Republic of San Marino. The party criticized what it describes as institutional silence regarding previous inquiries and called for the development of a local leadership class within the financial sector. Specifically, the opposition highlighted debates surrounding the removal of salary caps for central bank executives and argued that the nation should rely more on local expertise in justice, health, and credit rather than permanent external professionals.

In Italy, the Senate Finance and Treasury Commission is resuming discussions on legislation aimed at addressing 'de-risking' and bank account access. A central piece of the debate is Bill 1595, which addresses the obligations of banks to enter into and maintain current account relationships. The Italian Betting Operators Association (AGSI) has advocated for rapid approval, reporting that state-authorized gambling businesses and their employees have faced difficulties accessing credit and banking services. Conversely, the Italian Banking Association (ABI) has expressed reservations regarding a generalized mandate for credit institutions to establish account relationships.