Single Justice Fund Project - FUG

 
 
 
 

With the objective of rationalising the management of monies administered by the justice system within the scope of the Fondo Unico Giustizia - FUG [Single Justice Fund], and in compliance with Legislative Decree 143/2008, converted to Law 181/2008, containing "Urgent Interventions concerning the function of the justice system", Equitalia Giustizia SpA has chosen CBI S.c.p.a. to create a central service that enables the online supervision of FUG accounts (in June 2012 there were approximately 12,000 current accounts).

 

In 2009, through the CBI Access Point service, CBI S.c.p.a. implemented an online connection between Equitalia Giustizia S.p.A and the banking industry, so that banks can:

  

a.   Receive digital account statements and details of funding rates;

 

b.   Handle the funds

 

Below is a summary of the Financial Institutions' main obligations with regard to FUG accounts.

 

 

A. Single Justice Fund accounts communications

Single Justice Fund accounts communications CBI Financial Institution send information to Equitalia Giustizia on current accounts, demand/restricted savings deposits and securities deposits
 
Comunicazioni rapporti Fondo Unico Giustizia
 
 

In Circular 13/2009, CBI identified an architecture for the three types of account to be reported on (current accounts, savings deposits and security deposits). This allows financial institutions to send the information required according to standard layouts, through the CBI channel or alternatively using a specific web interface (accessible at  www.servizidinodo.it/equitaliagiustizia, using the credentials sent out to all consortium members by the Consorzio CBI in the Circular of 13 January 2010, while non-member institutions can request credentials by clicking on "Request User and Pwd"), according to the table below

 

 
Sintesi modalità di comunicazione saldi, movimenti e rendimento dei rapporti
Sintesi modalità di comunicazione saldi, movimenti e rendimento dei rapporti
 
 

The members' reserved area contains a list of network messages concerning communications with Equitalia, which are summarised below.

For more information, visit www.equitaliagiustizia.it.

 

 

  • Message from CBI Network of 8 January 2010communication method for reporting flows.

 

  • Message from CBI Network of 9 February 2010: transmission method for account statement data from 2009.

 

  • Message from CBI Network of 22 March 2010: information service test phase "Funding Rate Information".

 

  • Message from CBI Network of 15 April 2010: information on online account statement flows (EC-EF).

 

As with the hard copies of account statements, the heading CBI 18 (Interest and charges) should not be used to identify a generic transaction containing the total interest and charges applied to the accounts, but should only contain the items relating to the interest receivable and payable, itemised accordingly. Heading 66 (Charges) should be used for the charges.

 

B. Single Justice Fund accounts transactions

FUG accounts transactions Equitalia Giustizia operates directly on its own accounts
 
Movimentazione rapporti Fondo Unico Giustizia
 
 

In Circular 6/2010 CBI revealed that Equitalia Giustizia, in accordance with article 6 of the above decree and the master plan for the project agreed with CBI, had declared its intention to launch the second phase of the project, which enables the option to transfer FUG funds through the CBI payment services from the FUG current accounts. Equitalia Giustizia accesses the CBI circuit through CBI, which has set up a specific workstation (Initiating Party front-end) as part of the Access Point services.

 

To guarantee the full availability of FUG current accounts and therefore enable the payment services, the consortium members must intervene on any internal freezing of the accounts. Article 6(3)(d) of Decree no.127 enables the transfer of funds by Equitalia Giustizia, and therefore any freezing of the accounts that inhibits this option is unauthorised. ABI's Financial Regulation Sector has also expressed an opinion in this regard. After extensive discussions with the workgroup responsible for regulatory FUG issues, it decided to eliminate the operational restrictions that prevent Equitalia Giustizia from carrying out operations on FUG which cannot otherwise be justified.

 

In consideration of the above, since 1 October 2010) the Member Financial Institutions have been obligated to enable the following CBI Executing Bank functions on the current accounts of Equitalia Giustizia (CBI code 0902506P) relating to the FUG:

 

- executive functions: "Payments – Credit transfers (PC-EF)" and "XML SEPA payment instructions" and the related advice functions;

 

- information functions: "Daily statements (RH-EF)". 

 

The daily current account statements (RH-EF) are cumulative with the monthly account statements (EC-EF) which must be transmitted in any case.

 

The members' reserved area contains a list of network messages concerning the Member Financial Institutions' obligations to Equitalia, which are summarised below. For more information, visit www.equitaliagiustizia.it.

 

 

  • Message from the CBI Network of 22 September 2010: activation of advice services ("Payment Instructions Advice (EP-EF)" and "Advice to Originator and Creditor").

 

  • Message from CBI Network of 18 November 2010: communication method for "Information on Funding Rate".

 

  • Message from CBI Network of 1 January 2011: obligations for insurance companies.

 

  • Message from CBI Network of 25 June 2012: communication method for "Annual statements of account".

 

 

With reference to FUG current accounts, Equitalia Giustizia has asked the banks to send only the annual statements of account in printed form. The banks must only send the periodic statements of account electronically through the CBI circuit.

 

All documentation from CBI S.c.p.a. (circulars, letters and network messages) mentioned on this page can be downloaded from the Consortium members' reserved area - CBI Documentation.

 

If you are a CBI member, you can access the documentation.

 
 
 

CBI S.c.p.a.

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