Like the Bank of Japan and other central banks around the world, the Bank of Italy has long recognised the value of a stable presence in major international financial centres, for liaising with local authorities, disseminating information on and analyses of the respective economies, and for closely monitoring market developments.
The Bank’s first ‘Delegation’ – as our foreign offices were, and still are formally called – was opened in London in 1917, soon to be followed by the New York Office. Our interactions with Japan’s monetary and financial authorities had, of course, been under way well before the opening of our Tokyo Office.