ITALY: CCG Variation of the Contribution Quota to the Default Funds

Thursday June 18 2015

Cassa di Compensazione e Garanzia (CC&G) has announced that from June 18th, the amount of the Default Fund for the Share and the Equity Derivatives Sections will be decreased from € 2,000 million to € 1,850 million, while the Default Fund for the Energy Derivatives Section will be decreased from € 15 million to € 14 million.

Additionally, the variation of the Contribution Quota to the above mentioned Default Funds will be provided by means of the ICWS (Default Fund menu) and the message M01 through RNI. Debtor Members or their Settlement Agents will have to fund their PM account in the TARGET2 System in order to allow CC&G to direct debit the amount due. CC&G will credit PM accounts of creditor Members or their relevant Settlement Agents.

Click on the link above for further details