Accordingly, already with the implementation of the Destination Italy decree, we created new asset classes to accommodate both direct investment in mini-bonds and commercial paper (up to 3 per cent of the technical provisions), and investment via securitization (again, up to 3 per cent of the technical provisions).
We have reviewed our Regulation on oversight requirements for systemically important payment systems[22], introducing a more forward-looking approach to identify payment systems that are systemically important. And today we are launching a public consultation on the new regulation, which will then become operational by mid-2021.