206:
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. 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.
266:(parliament), for a five-year mandate with the possibility of being re-elected for one additional term. The law assigns to the governing council the powers of policymaking and management of the central bank. The governing council is responsible for preparing the financial statement and submitting it to the shareholders' assembly for approval, accompanied by an explanatory Annual Report. The council is also vested with the power of appointing the director-general, the Supervision Committee, the deputy director, the officers and the general hiring of new staff members.
29:
197:
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.
196:
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
253:
During the annual meeting, shareholders approve the financial statement and the annual report, which are prepared and presented by the
Governing Council, and decide on the admission of new members to the capital of the institution. The state is represented by the Secretary of State for Finance and
205:
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
162:
The central bank's endowment fund is currently €12.9 million divided into 2,500 indivisible registered shares worth €5,164.57 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
288:
The director-general is appointed by the governing council for a six-year term. He attends the meetings of the shareholders and of the
Governing Council without voting rights and acts as the chair of the Supervision Committee. The director-general is responsible for managing human resources,
170:
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
302:
The
Supervision Committee is vested by law with the power of carrying out the supervisory functions on the banking, financial and insurance industry of San Marino, through inspections, reporting activity and regulation.
779:
174:
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;
774:
459:
328:
Auditors are responsible for supervising the management of the central bank, especially for what regards the compliance of financial statements with the provision of law.
224:
519:
489:
827:
837:
822:
873:
868:
794:
639:
832:
817:
667:
784:
159:(Inspectorate for Credit and Currencies, a public administration office charged with supervisory and combating money-laundering activities).
153:(San Marino Credit Institute, a body with public and private shareholders acting as the central bank of the Republic of San Marino) and the
878:
662:
429:
451:
789:
177:
providing adequate support to the financial system of the
Republic, to include performing the functions of incentive and guidance;
180:
facilitating economic and financial activity, setting up and maintaining efficient and reliable payment systems for the republic.
541:
166:
Pursuant to art. 3 of its statutes the
Central Bank of the Republic of San Marino will exercise its powers for the purpose of:
693:
129:
481:
511:
858:
698:
764:
632:
883:
672:
263:
185:
863:
625:
374:
812:
744:
739:
379:
364:
754:
262:
The governing council is made up by the chairman and by five councillors, which are appointed by the
68:
888:
688:
230:
28:
609:
769:
369:
121:
724:
719:
56:
421:
734:
852:
729:
703:
648:
137:
201:
Relations with state institutions and international banking and financial bodies
133:
78:
184:
The central bank is answerable for the attainment of its objectives to the
400:
617:
141:
88:
621:
593:
236:
Banca
Agricola Commerciale Istituto Bancario Sammarinese: 5%
597:
Office of
Economic planning, Data processing and Statistics
780:
International Centre for
Settlement of Investment Disputes
585:
289:
coordinating and supervising the work to be carried out.
254:
Budget and by another representative of the government.
601:
569:
147:
The CBSM was established through a merger between the
99:
775:
International Bank for Reconstruction and Development
577:
805:
753:
712:
681:
655:
94:
84:
74:
64:
51:
43:
35:
613:Chamber of Commerce of the Republic of San Marino
401:"The Organisation and Structure of Central Banks"
225:Cassa di Risparmio della Repubblica di San Marino
422:"The Central Bank of the Republic of San Marino"
136:. Despite its name, it is not a fully-fledged
828:Central banks and currencies of the Caribbean
633:
589:Department of the State Secretary for Finance
216:
154:
148:
126:Banca Centrale della Repubblica di San Marino
22:Banca Centrale della Repubblica di San Marino
8:
838:Central banks and currencies of the Americas
823:Central banks and currencies of Asia-Pacific
19:
16:Financial regulatory authority of San Marino
640:
626:
618:
338:Valentina Di Francesco – statutory auditor
270:Catia Tomasetti - Chairman, since May 2018
114:Central Bank of the Republic of San Marino
27:
18:
795:Multilateral Investment Guarantee Agency
408:Katalog der Deutschen Nationalbibliothek
319:Maurizio Pappalardo – internal inspector
310:Giuliano Battistini – internal inspector
391:
833:Central banks and currencies of Europe
818:Central banks and currencies of Africa
668:Basel Committee on Banking Supervision
313:Marco Giulianelli – internal inspector
156:Ispettorato per il Credito e le Valute
785:International Development Association
239:Banca Sammarinese di Investimento: 1%
7:
335:Monica Zafferani – statutory auditor
663:Bank for International Settlements
14:
874:2005 establishments in San Marino
790:International Finance Corporation
293:Andrea Vivoli – managing director
273:Francesco Mancini - Vice Chairman
60:28% banks and insurance companies
869:Financial regulatory authorities
605:Philatelic and numismatic Office
522:from the original on 22 May 2016
492:from the original on 17 May 2016
462:from the original on 17 May 2016
432:from the original on 7 June 2015
332:Pier Angela Gasperoni – chairman
316:Fabio Mazza – internal inspector
215:State (Republic of San Marino –
34:
351:RSM 47890 - Città di San Marino
150:Istituto di Credito Sammarinese
694:Contractionary monetary policy
140:given San Marino's use of the
130:financial regulatory authority
1:
581:Financial Intelligence Agency
699:Expansionary monetary policy
452:"General meeting of Members"
765:International Monetary Fund
324:Board of Statutory Auditors
905:
573:Central Bank of San Marino
546:Central Bank of San Marino
516:Central Bank of San Marino
486:Central Bank of San Marino
456:Central Bank of San Marino
426:Central Bank of San Marino
20:Central Bank of San Marino
879:Banks established in 2005
673:Financial Stability Board
354:LRepubblica di San Marino
264:Grand and General Council
186:Grand and General Council
75:Central bank of
26:
307:Andrea Vivoli – chairman
279:Francesco Ielpo - Member
542:"Supervision committee"
375:Sammarinese euro coins
218:Eccellentissima Camera
217:
155:
149:
125:
813:List of central banks
745:Sovereign wealth fund
740:Open market operation
399:Weidner, Jan (2017).
380:List of central banks
365:Economy of San Marino
298:Supervision Committee
276:Walter Guidi - Member
348:Via del Voltone, 120
249:Shareholders meeting
859:Banks of San Marino
689:Capital requirement
482:"Governing Council"
231:Banca di San Marino
23:
512:"Director General"
192:Powers of the CBSM
884:Law of San Marino
846:
845:
258:Governing Council
110:
109:
896:
770:World Bank Group
642:
635:
628:
619:
557:
556:
554:
552:
538:
532:
531:
529:
527:
508:
502:
501:
499:
497:
478:
472:
471:
469:
467:
448:
442:
441:
439:
437:
418:
412:
411:
405:
396:
370:Sammarinese Lira
284:Director General
244:Governing bodies
220:
158:
152:
106:
103:
101:
31:
24:
904:
903:
899:
898:
897:
895:
894:
893:
849:
848:
847:
842:
801:
756:
749:
720:Capital control
708:
677:
651:
646:
566:
561:
560:
550:
548:
540:
539:
535:
525:
523:
510:
509:
505:
495:
493:
480:
479:
475:
465:
463:
450:
449:
445:
435:
433:
420:
419:
415:
403:
398:
397:
393:
388:
361:
345:
326:
300:
286:
260:
251:
246:
212:
203:
194:
98:
69:Catia Tomasetti
59:
57:state ownership
39:Via del Voltone
21:
17:
12:
11:
5:
902:
900:
892:
891:
886:
881:
876:
871:
866:
861:
851:
850:
844:
843:
841:
840:
835:
830:
825:
820:
815:
809:
807:
803:
802:
800:
799:
798:
797:
792:
787:
782:
777:
767:
761:
759:
751:
750:
748:
747:
742:
737:
735:Money creation
732:
730:Interest rates
727:
722:
716:
714:
713:Implementation
710:
709:
707:
706:
701:
696:
691:
685:
683:
679:
678:
676:
675:
670:
665:
659:
657:
653:
652:
647:
645:
644:
637:
630:
622:
616:
615:
611:Official site:
607:
603:Official site:
599:
595:Official site:
591:
587:Official site:
583:
579:Official site:
575:
571:Official site:
565:
564:External links
562:
559:
558:
533:
503:
473:
443:
413:
390:
389:
387:
384:
383:
382:
377:
372:
367:
360:
357:
356:
355:
352:
349:
344:
341:
340:
339:
336:
333:
325:
322:
321:
320:
317:
314:
311:
308:
299:
296:
295:
294:
285:
282:
281:
280:
277:
274:
271:
259:
256:
250:
247:
245:
242:
241:
240:
237:
234:
228:
222:
211:
208:
202:
199:
193:
190:
188:(parliament).
182:
181:
178:
175:
172:
108:
107:
96:
92:
91:
86:
82:
81:
76:
72:
71:
66:
62:
61:
53:
49:
48:
45:
41:
40:
37:
33:
32:
15:
13:
10:
9:
6:
4:
3:
2:
901:
890:
887:
885:
882:
880:
877:
875:
872:
870:
867:
865:
864:Central banks
862:
860:
857:
856:
854:
839:
836:
834:
831:
829:
826:
824:
821:
819:
816:
814:
811:
810:
808:
804:
796:
793:
791:
788:
786:
783:
781:
778:
776:
773:
772:
771:
768:
766:
763:
762:
760:
758:
755:Bretton Woods
752:
746:
743:
741:
738:
736:
733:
731:
728:
726:
725:Discount rate
723:
721:
718:
717:
715:
711:
705:
704:Basel Accords
702:
700:
697:
695:
692:
690:
687:
686:
684:
680:
674:
671:
669:
666:
664:
661:
660:
658:
654:
650:
649:Central banks
643:
638:
636:
631:
629:
624:
623:
620:
614:
612:
608:
606:
604:
600:
598:
596:
592:
590:
588:
584:
582:
580:
576:
574:
572:
568:
567:
563:
547:
543:
537:
534:
521:
517:
513:
507:
504:
491:
487:
483:
477:
474:
461:
457:
453:
447:
444:
431:
427:
423:
417:
414:
409:
402:
395:
392:
385:
381:
378:
376:
373:
371:
368:
366:
363:
362:
358:
353:
350:
347:
346:
342:
337:
334:
331:
330:
329:
323:
318:
315:
312:
309:
306:
305:
304:
297:
292:
291:
290:
283:
278:
275:
272:
269:
268:
267:
265:
257:
255:
248:
243:
238:
235:
232:
229:
226:
223:
219:
214:
213:
209:
207:
200:
198:
191:
189:
187:
179:
176:
173:
169:
168:
167:
164:
160:
157:
151:
145:
143:
139:
135:
131:
127:
123:
119:
115:
105:
97:
93:
90:
87:
83:
80:
77:
73:
70:
67:
63:
58:
54:
50:
46:
42:
38:
30:
25:
610:
602:
594:
586:
578:
570:
549:. Retrieved
545:
536:
524:. Retrieved
515:
506:
494:. Retrieved
485:
476:
464:. Retrieved
455:
446:
434:. Retrieved
425:
416:
407:
394:
343:Headquarters
327:
301:
287:
261:
252:
210:Shareholders
204:
195:
183:
165:
163:activities.
161:
146:
138:central bank
117:
113:
111:
36:Headquarters
44:Established
889:Regulators
853:Categories
386:References
134:San Marino
128:), is the
79:San Marino
551:27 August
526:27 August
496:27 August
466:27 August
436:27 August
65:President
52:Ownership
682:Policies
520:Archived
490:Archived
460:Archived
430:Archived
359:See also
171:engaged;
85:Currency
122:Italian
95:Website
757:system
656:Global
221:): 72%
806:Lists
404:(PDF)
227:: 16%
102:.bcsm
553:2020
528:2020
498:2020
468:2020
438:2020
233:: 6%
142:euro
118:CBSM
112:The
89:Euro
55:72%
47:2005
132:of
120:) (
104:.sm
100:www
855::
544:.
518:.
514:.
488:.
484:.
458:.
454:.
428:.
424:.
406:.
144:.
124::
641:e
634:t
627:v
555:.
530:.
500:.
470:.
440:.
410:.
116:(
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
