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Banca d'Italia

DB03-0101
DB03-0101DB03-0101
ID Number: DB03-0101 Description: 500 Lire Country or State: Italy Year: 1993 Commemorative Issue: Centenary of the Bank of Italy Currency: Lira (1861-2001) Obverse: Female head facing left. The woman symbolizes the Italian Republic with feathered wings com ...Read more



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ID Number: DB03-0101
Description: 500 Lire
Country or State: Italy
Year: 1993
Commemorative Issue: Centenary of the Bank of Italy
Currency: Lira (1861-2001)
Obverse: Female head facing left. The woman symbolizes the Italian Republic with feathered wings coming from temples (symbols of intelligence and freedom). Engraver's name below the neck-cut.
Obverse Legend: REPVBBLICA ITALIANA, CRETARA
Obverse Designer: Laura Cretara
Reverse: In center the monogram of the Bank of Italy divides the dates of the anniversary on both sides. Name of the author below. In outer ring the value is in the legend.
Reverse Legend: CENTENARIO DELLA BANCA D'ITALIA, 1893 1993, R, GROSSI, L.500
Reverse Designer: Sergio Grossi
Edge: Alternating smooth and reeded segments
Orientation: Coin alignment ↑↓
Mint Mark: R (Rome)
Composition: Bi-Metallic Bronzital center in Acmonital ring
Diameter: 25.8 mm
Thickness: 2.0 mm
Weight: 6.8000 grams
Mintage: 90,000,000
Catalog Number: KM# 160, Gigante: 145

Banca d'Italia (Italian for Bank of Italy) is the central bank of Italy and part of the European System of Central Banks. It is located in Palazzo Koch, Roma, via Nazionale. The bank's current governor is Ignazio Visco, who took the office on 1 November 2011.

After the charge of monetary and exchange rate policies was shifted in 1998 to the European Central Bank, within the European institutional framework, the bank implements the decisions, issues euro banknotes and withdraws and destroys worn pieces.

The main function has thus become banking and financial supervision. The objective is to ensure the stability and efficiency of the system and compliance to rules and regulations; the bank pursues it through secondary legislation, controls and cooperation with governmental authorities.

Following reform in 2005, which was prompted by takeover scandals, the bank has lost exclusive antitrust authority in the credit sector, which is now shared with Italy's Antitrust Authority.

Other functions include, market supervision, oversight of the payment system and provision of settlement services, State treasury service, Central Credit Register, economic analysis and institutional consultancy.

Bank of Italy gold reserves are 2,451.8 tonnes (2006).

The institution, also called BankItalia, was established in 1893 from the combining of three major banks in Italy after the Banca Romana scandal.The new central bank first issued bank-notes during 1926.Until 1928 it was directed by a General Manager, after this time instead by a Governor elected by an internal commission of managers, with a decree from the President of the Italian Republic for a term of 7 years.