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Ministry of Economy and FinanceECB: OPINION ON THE TAXATION OF THE GOLD RESERVES

Press Release N° 108 of 07/15/2009

The assessment made by the ECB on the taxation of the gold reserves, just received from Frankfurt, is part of an extremely useful exchange of information underway, and is received with great satisfaction. This assessment allows us to further pursue the action initiated in these weeks with a view to tackling the unresolved issues to which we aim to provide a solution when the amendments are discussed.

As already communicated in a letter to the European Central Bank before the approval of the series of measures that include the regulation in question (Council of Ministers of 26 June), we are currently examining all the adjustments that are in a position to ensure that the regulation "does not in any way negatively affect the autonomy, financial as much as operative, of the Bank of Italy".

Rome 07/15/2009

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