ITALY. 



-THE NEW FEDERATION AND THE FEDERAI. BANK 

 OF CO-OPERATIVE CREDIT SOCIETIES AT MII.AN. 



SOURCES : 



Statuto della federaione fra Istituti Cooperativi di credito {Rules of the Federation 

 of Co-operative Credit Institutes). Milan, 1913. 



Statuto della Banca Federals delle Co-operative di credito (Rules of the Federal Bank 

 of the Co-operative Credit Societies) Milan, 1913. 



lyUZZATTi (lyuigi) : I,a Federazione e la Banca Federale delle cooperative di credito (The Feder- 

 ation and the Federal Bank of Co-operative Credit Societies)), in " Credito e Coope- 

 razione ", the organ of the People's Banks Association. Rome, no. 22, November 

 15th,, 1913. 



The People's Banks of Bologna and Cremona, and after them those of 

 lyodi, Bergamo, Modena, Mortara, Novara, Padua, Piacenza etc., on a sug- 

 gestion from Signor Luigi Luzzatti, united in October, 1913 to form a 

 Federation of Co-operative Credit Institutes and a Federal Bank of 

 Co-operative Credit Societies. 



The object of the former, according to article i of its rules, is : {a) to 

 render the action of the associated Institutes more useful and efficacious, 

 by uniting the notable material and moral forces at their disposal, so as 

 to harmonise them and guide them to the realisation of their common 

 aims; (&) to protect the general interests of the federated Institutes, aiding 

 them both in the exercise of their functions as credit establishments and 

 in obtaining the approval of all legislative, fiscal or judicial measures of 

 general interest. 



The powers of the Federation will be exercised by the members' meet- 

 ing and a Permanent Committee. 



The Meeting of the Federated Members, which assembles in ordinary 

 general session once a year, consists of the presidents or managers, the 

 legitimate representatives of each federated institution. In order that its 

 decisions may be valid, the first sitting must be attended by a third of 

 the members. 



The federated institutes have as many votes as there were millions 

 of francs of capital and reserve fund on their last balance sheets as approved. 

 They have also supplementary votes for every three million francs of fidu- 

 ciary deposits, shown on the last balance sheets as approved. 



