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The MINISTER of economy and finance Saw the Decree of the President of the Republic December 30, 2003, # 398, bearing the "consolidated text of laws and regulations relating to public debt», and in particular article 3, which provides that the Minister of finance is authorized, in each financial year, to issue decrees that allow Treasure frame : borrowing operations domestically or abroad in the forms of financial products and instruments in the short, medium and long term, indicating the nominal amount, the interest rate or the criteria for determining the rate, duration, minimum subscription, the employment system and every other feature and method; you have to promote the efficiency of financial markets, the issue of tranches of loans in force to allow the use of repurchase agreements or other in use in markets; proceeding, for the purposes of domestic and foreign public debt restructuring, the early repayment of the bonds, to transformations of deadlines, such swaps as well as substitution between different types of securities or other instruments provided by the practice of international financial markets; Having regard to the Ministerial Decree of August 4, 2003 73150, as amended by Ministerial Decree No 1 of February 2005 9487, with which you can adjust the exchange transactions of government bonds to be made via computerised trading; See also, article 5 of the above-mentioned consolidated text of laws and regulations relating to public debt on the Treasury account «discipline entertained at the Bank of Italy for the Treasury; Having regard to the Convention in March 22, 2011 date between the Ministry of economy and finance and the Bank of Italy for the management of the Treasury availability account for Treasury Service (hereinafter «account availability») and accounts similar to it, as well as the Ministerial Decree No. 19080 of July 29, 2011 and subsequent amendments, by which the Convention was approved; Having regard to the Ministerial Decree # 25391 of October 25, 2011, with which it was covered methods of handling liquidity on account availability and on accounts to it can be assimilated and selection of counterparties admitted to operations; Given that the Treasury Department can implement: frame contracts with financial institutions (I.S.D.A. Master Agreement) in order to regulate the agreements listed below, as determined by the International Swaps and Derivatives Association, International Swap Dealers Association (hereinafter: «I.S.D.A.»), internationally recognized trade association for defining contractual standards; during the debt restructuring agreements with the same financial institutions in order to regulate the operation thereof; other agreements anyway related to the management of the loans; Having regard to the Legislative Decree March 30, 2001, # 165 laying down general rules on the sort of labour employed by public administrations ' and in particular article 4 which is credited to government bodies, while the performance of the duties of political-administrative address and verification of compliance with the results of the administrative and management activities to the addresses given, reserves instead to executives the adoption of legislative acts and administrative measures including those that commit the Administration to the outside as well as the financial, technical and administrative management; Having regard to the Legislative Decree July 30, 1999, n. 300, bearing the "reform of the Government, in accordance with article 11 of the law March 15, 1997, # 59 ' and in particular article 5, paragraph 3, which provides that the head of the Department carries out coordination, management and monitoring of general managerial offices included in the same Department, in order to ensure the continuity of the functions of the Administration and is responsible for the overall results achieved by the offices that depend on it in implementation of guidelines by the Minister; Given the organisational regulations of the Ministry of economy and finance, enacted by Decree of the President of the Council of Ministers of February 27, 2013, # 67, and in particular article 5, paragraph 2, where you define the functions performed by the Directorate II; View the January 14, 1994, law No. 20 bearing ' provisions on jurisdiction and control by the Court of Auditors ' and in particular article 3, paragraph 13, which establishes that the provisions referred to in paragraph 1, related to prior control by the Court of Auditors ' legitimacy, do not extend to acts and the measures taken, monetary, credit, foreign exchange and securities matters; Having regard to the Legislative Decree of April 12, 2006, n. 163, bearing the code of public contracts for works, services and supplies in implementation of directives 2004/17/EC and 2004/18/EC ', and in particular article 19, paragraph 1, point d) where it is established that the provisions of the code shall not apply to contracts relating to financial services in connection with the issue, sale, purchase or transfer of securities or other financial instruments; Having regard to law no December 31, 2009 196 laying down the law of accounting and public finance; Considered the need to delineate the benchmarks for the performance of administrative activities in the field of financial transactions aimed at debt management, establishing the limits to be observed and how the Administration is going to have to follow in such activities during the fiscal year 2015;
Decrees: Art. 1 Issuance of loans in accordance with article 3 of the Decree of the President of the Republic December 30, 2003, n. 398, mentioned in the introduction, for the fiscal year 2015 emission lending operations indicated in that article will be arranged by the Director General of the Treasury or his delegate, the Director General Head of Directorate II of the Treasury Department (hereinafter referred to as "Director of Directorate II"). In case of absence or impediment of the latter, the above operations can be arranged by the Director General of the Treasury, even with ongoing delegation. The Treasury Department can carry out emissions of government bonds in all room types in use in the financial markets, fixed rate or variable. He may also proceed with the release of tranches of loans in force to allow the use of repurchase agreements or other financial practices in order to promote the efficiency of markets.
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