European Central Bank 8 December 2025, Opinion of the European Central Bank of 08 December 2025 concerning the ownership of the Banca d’Italia’s gold reserves (CON/2025/40)

EN ECB-PUBLIC OPINION OF THE EUROPEAN CENTRAL BANK of 08 December 2025 concerning the ownership of the Banca d’Italia’s gold reserves (CON/2025/40) Introduction and legal basis On 4 December 2025 the European Central Bank (ECB) received a request from the Italian Minister for Economy and Finance for an opinion on a revised provision (hereinafter the ‘revised draft provision’) of the draft Budget