Which bank was established in 1893 and serves as Italy’s central bank?

The Bank of Italy was established in 1893 and serves as Italy’s central bank.

It was created through the merger of four existing issuing institutions, including the Banca Nazionale nel Regno d’Italia. The new institution received the exclusive right to issue banknotes alongside the Bank of Naples and the Bank of Sicily.

The Bank of Italy became Italy’s sole banknote issuer in 1926. Today, it is part of the Eurosystem and helps implement the European Central Bank’s monetary policy, while retaining national responsibilities such as banking supervision and financial stability.

The Bank of Italy is sometimes confused with the Italian Treasury or the European Central Bank. The Treasury is a government department, while the Bank of Italy is an independent central bank headquartered in Rome.