OBS_VALUE: The Bank of Italy is funded for the most part by private institutions.  See: http://www.bancaditalia.it/bancaditalia/funzgov/gov/partecipanti. The capital, amounting to 7,500,000,000, is divided into 300,000 registered shares with a par value of 25,000 euros each. The rules on the ownership of shares refer to the relevant provisions of law and also specify that shares may be transferred, acting on a proposal from the Directorate, only with the prior consent of the Board of Directors, so as to “preserve at all times the autonomy and independence of the Bank and a balanced distribution of the shares”.See also Regulation 2019/2175 establishing a European Supervisory Authority (art. 46).