Central Bank of San Marino

Central Bank of San Marino
Banca Centrale della Repubblica di San Marino(Italian)
Headquarters	San Marino
Established	2005
President	Renato Clarizia
Central bank of	San Marino
Preceded by	Istituto di Credito Sammarinese Ispettorato per il Credito e le Valute
Succeeded by	European Central Bank ¹
Website	www.bcsm.sm
¹ The Central Bank of San Marino still exists but many functions have been taken over by the ECB . However, the bank is not part of the Eurosystem or the European System of Central Banks.

The Central Bank of the Republic of San Marino (CBSM), (Italian "Banca Centrale della Repubblica di San Marino"), is the central bank of San Marino. The current president is Wafik Grais.^[1]

The CBSM was established through a merger between the Istituto di Credito Sammarinese – San Marino Credit Institute - (a body with public and private shareholders acting as the central bank of the Republic of San Marino) and the Ispettorato per il Credito e le Valute - Inspectorate for Credit and Currencies - (a Public Administration Office charged with supervisory and combating money-laundering activities). The Central Bank’s endowment fund is currently 12,911,425.00 Euros divided into 2,500 indivisible registered shares worth 5,164.57 Euros each. The possessory title of these shares is reserved to the State, as majority shareholder, and to San Marino undertakings engaged in credit, financial and insurance activities. Pursuant to art. 3 of its Statutes the Central Bank of the Republic of San Marino will exercise its powers for the purpose of:

promoting the stability of the financial system and protecting savings, whose substantial social value is recognised by the Republic, through supervision of the credit, financial and insurance activities in which authorised intermediaries are engaged;
providing banking and financial services to the State and to the Public Administration, one purpose being to coordinate the management of liquidity and the choice of forms of financing;
providing adequate support to the financial system of the Republic, to include performing the functions of incentive and guidance;
facilitating economic and financial activity, setting up and maintaining efficient and reliable payment systems for the Republic.

The Central Bank will be answerable for the attainment of its objectives to the Grand and General Council (Parliament).

Powers of the CBSM

In order to achieve the objectives and carry out the functions assigned by Law, the Central Bank, through its organs and in its respective areas of competence, may adopt measures, to include those in the form of regulations, orders, circulars, standard letters, recommendations and instructions, which will, besides being of a cogent nature in dealings with supervised parties, also perform the function of explaining and interpreting the tasks assigned to the Central Bank by Law. The Central Bank will, adopting the methods regarded as most appropriate, make public the measures referred to in the previous paragraph if they are of general relevance and addressed to the public. The Central Bank shall punish by pecuniary sanctions those Directors, Auditors, Managers, Legal Representatives, Receivers and Liquidators of the supervised parties contravening the provisions of a special decree issued upon proposal of the Central Bank, after having obtained the opinion of the Committee for Credit and Savings.

The Central Bank's relations with State institutional bodies and foreign and international banking and financial bodies

The Central Bank will be entitled to assist and inform the Congress of State, through the Department of the State Secretary for Finance, on economic matters and measures which, in the opinion of the Central Bank, can be associated with and influence the pursuit of the Central Bank’s institutional objectives. The Central Bank will put forward resolutions and comments on proposed laws and on normative instruments referring directly to the objectives and functions reserved by the law to the Central Bank, and also draft proposed bills and normative instruments on matters within its sphere of competence, to be submitted to the Congress of State through the Committee for Credit and Savings. Besides the Central Bank, through the Committee for Credit and Savings, will forward information to the Congress of State on the more significant facts noted or obtained in the exercise of its institutional functions. Jointly with the representatives of the Congress of State, the Central Bank will represent the Republic of San Marino in all the international financial institutions in which the Republic takes part.

Shareholders

State (Republic of San Marino – Great and General Council): 70%
Cassa di Risparmio della Repubblica di San Marino: 14%
Banca di San Marino: 6%
Banca Agricola Commerciale Istituto Bancario Sammarinese: 5%
Banca CIS - Credito Industriale Sammarinese: 5%

Governing Council

Renato Clarizia - Chairman
Stefano Bizzocchi - Vice Chairman
Silvia Cecchetti - Member
Giorgio Lombardi - Member
Marco Mularoni - Member
Aldo Simoncini - Member

Director General

Mario Giannini – Director General

Supervision Committee

Mario Giannini - Chairman
Antonio Gumina - Inspector
Francesco Ielpo - Inspector
Andrea Vivoli - Inspector

Board of Statutory Auditors

Irene Lonfernini - Chairman
Luca Marcucci – Statutory Auditor
Sandy Concetta Stefanelli – Statutory Auditor

Headquarters

Via del Voltone, 120 - RSM 47890 - Città di San Marino - Repubblica di San Marino

Linked items

Economy of San Marino
Sammarinese Lira
Sammarinese Euro Coins

References

↑ "Google Translate". translate.google.co.in. Retrieved 2016-09-21.

External links

Central banks

Global

Global	Bank for International Settlements Basel Committee on Banking Supervision Financial Stability Board

By continent

Africa	Bank of Central African States Central Bank of West African States Bank of Algeria National Bank of Angola Bank of Botswana Bank of the Republic of Burundi Bank of Cape Verde Central Bank of the Comoros Central Bank of the Congo Central Bank of Djibouti Central Bank of Egypt Bank of Eritrea National Bank of Ethiopia Central Bank of The Gambia Bank of Ghana Central Bank of the Republic of Guinea Central Bank of Kenya Central Bank of Lesotho Central Bank of Liberia Central Bank of Libya Central Bank of Madagascar Reserve Bank of Malawi Central Bank of Mauritania Bank of Mauritius Bank Al-Maghrib (Morocco) Bank of Mozambique Bank of Namibia Central Bank of Nigeria National Bank of Rwanda Central Bank of São Tomé and Príncipe Central Bank of Seychelles Bank of Sierra Leone Central Bank of Somalia Bank of Somaliland South African Reserve Bank Bank of South Sudan Central Bank of Sudan Central Bank of Swaziland Bank of Tanzania Central Bank of Tunisia Bank of Uganda Bank of Zambia Reserve Bank of Zimbabwe

Americas	Central Bank of Argentina Central Bank of Aruba Central Bank of The Bahamas Central Bank of Barbados Bermuda Monetary Authority Central Bank of Brazil Bank of Canada Central Bank of Chile Bank of the Republic (Colombia) Central Bank of Cuba Central Bank of Curaçao and Sint Maarten Eastern Caribbean Central Bank Cayman Islands Monetary Authority Central Bank of Ecuador Bank of Guatemala Bank of the Republic of Haiti Central Bank of Honduras Bank of Jamaica Bank of Mexico Central Bank of Nicaragua Central Reserve Bank of Peru Central Bank of Suriname Central Bank of Trinidad and Tobago Federal Reserve System (United States) Central Bank of the Uruguay Central Bank of Venezuela

Asia	Da Afghanistan Bank Central Bank of Bahrain Bangladesh Bank Royal Monetary Authority of Bhutan Brunei Currency and Monetary Board Autoriti Monetari Brunei Darussalam National Bank of Cambodia People's Bank of China Hong Kong Monetary Authority Reserve Bank of India Bank Indonesia Central Bank of the Islamic Republic of Iran Central Bank of Iraq Bank of Israel Bank of Japan Central Bank of Jordan National Bank of Kazakhstan National Bank of the Kyrgyz Republic Bank of Korea Central Bank of the Democratic People's Republic of Korea Central Bank of Kuwait Banque du Liban Monetary Authority of Macao Bank Negara Malaysia Maldives Monetary Authority Bank of Mongolia Central Bank of Myanmar Nepal Rastra Bank Central Bank of Oman State Bank of Pakistan Palestine Monetary Authority Bangko Sentral ng Pilipinas Qatar Central Bank Saudi Arabian Monetary Agency Monetary Authority of Singapore Central Bank of Sri Lanka Central Bank of Syria Central Bank of the Republic of China (Taiwan) Bank of Thailand Central Bank of Turkmenistan Central Bank of the United Arab Emirates Central Bank of Uzbekistan State Bank of Vietnam Central Bank of Yemen

Europe	European Central Bank (Eurosystem) National Bank of the Republic of Abkhazia Bank of Albania Central Bank of Armenia National Bank of Austria Central Bank of Azerbaijan National Bank of the Republic of Belarus National Bank of Belgium Central Bank of Bosnia and Herzegovina Bulgarian National Bank Croatian National Bank Central Bank of Cyprus Czech National Bank Danmarks Nationalbank (Denmark) Deutsche Bundesbank (Germany) Bank of England Bank of Estonia Bank of Finland Banque de France National Bank of Georgia Bank of Greece Hungarian National Bank Central Bank of Iceland Central Bank of Ireland Banca d'Italia Central Bank of Kosovo Bank of Latvia Bank of Lithuania Central Bank of Luxembourg National Bank of the Republic of Macedonia Central Bank of Malta National Bank of Moldova Central Bank of Montenegro De Nederlandsche Bank Norges Bank Central Bank of the Turkish Republic of Northern Cyprus National Bank of Poland Banco de Portugal National Bank of Romania Central Bank of Russia National Bank of Serbia National Bank of Slovakia Bank of Slovenia Gosbank (Soviet Union) Bank of Spain Swedish National Bank Swiss National Bank Central Bank of the Republic of Turkey National Bank of Ukraine

Oceania	Reserve Bank of Australia Reserve Bank of Fiji Reserve Bank of New Zealand Bank of Papua New Guinea Central Bank of Samoa Central Bank of Solomon Islands National Reserve Bank of Tonga Reserve Bank of Vanuatu

Policies and implementation

Policies	Capital requirement Contractionary monetary policy Expansionary monetary policy Basel II Basel III Basel 4

Implementation	Capital control Discount rate Interest rates Money creation Open market operation Sovereign wealth fund

Bretton Woods system

International Monetary Fund World Bank Group International Bank for Reconstruction and Development International Centre for Settlement of Investment Disputes International Development Association International Finance Corporation Multilateral Investment Guarantee Agency

Lists

List of central banks Central banks and currencies of Africa Central banks and currencies of Asia-Pacific Central banks and currencies of the Caribbean Central banks and currencies of Europe Central banks and currencies of Central America and South America

Names in italics indicate non-sovereign (dependent) territories, former countries, or states with limited recognition

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