In Italy, this covers 56 banking groups, 435 non-group banks, and 77 branches of foreign banks, plus 456 non-bank financial intermediaries also subject to our prudential supervision. The Bank of Italy is also tasked with activating macroprudential policies to safeguard the overall stability of the financial system.
It is undisputable that DLTs have useful features.9 Market participants are showing high interest in the topic: last December the Bank of Italy (through our Milano Hub, the innovation centre created to support the digital evolution of Italian financial system) launched a specific call for proposals on DLT applications in finance, insurance and payments. We received 57 projects, submitted by 82 participants.