The Italian coin circuit has traditionally been characterised by a limited operational involvement of Banca d’Italia and by a low level of co-operation among banks in the recirculation of available coin stocks.

In recent years, initiatives have been promoted by national authorities aimed at achieving a more advanced balance between Banca d’Italia cash services and direct recirculation of coins among professional customers (commercial banks, cash in transfer companies).

On the one hand, an information platform for direct coin exchanges among banks has been implemented; on the other hand, Banca d’Italia’s cash services for coins have been improved to a certain extent. Further adjustments are still under definition with a view to strengthening the incentives for market participants to demand/supply coins in coherence with the objective of fluidity of the overall coin circulation.