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Milestones in the development of CDP:
1850
Modelled on the French Caisse des dépôts et consignations, CDP was established in Turin to receive deposits from public and private entities as a place of "public trust". Soon it began granting loans at favourable conditions to municipalities and provinces along the lines of the French model.
1863
Pre-unification CDP based in Turin took over similar institutions operating in the country and a new institution was created, based first in Florence, then in Rome. The new CDP was mainly engaged in granting loans to Italian local governments for financing infrastructure investments and offering borrowers financial assistance for debt restructuring.
1875
Postal savings passbooks were introduced. Funds collected by means of this instrument by the Italian Post Office network were used by CDP to finance Italian public sector entities.
1898
CDP was transformed into a Directorate General of the Italian Treasury.
1924
Interest-bearing postal savings bonds were introduced. State guarantee, safe yields, high degree of liquidity, small denominations and extensive distribution throughout the country made fund raising easier than through Treasury bills.
1983
CDP was granted full organisational autonomy.
1993
CDP was granted separate legal personality.
1999
Status of CDP as a State agency acting in the general economic interest with separate legal personality and regulatory, organizational and financial independence was confirmed. Accordingly, CDP was not subject to the provisions of the 1993 Banking Law, while the European Commission excludes CDP from the scope of EU Directives on credit matters. In accordance with the criteria established by ESA95 for the purposes of preparing economic and financial accounts, CDP was classified under the General Government sector.
2002
Infrastrutture S.p.A., wholly-owned subsidiary of CDP, was established by law to finance infrastructure and major public works in cooperation with the banking system.
2003
CDP was transformed by law from a public administration entity into a joint stock company majority owned by the Italian State. The Transformation Law established two operational areas within CDP in order to manage public-interest activities separately for accounting and organisational purposes.
2006
Effective as of 1 January 2006, Infrastrutture S.p.A. was incorporated by law into CDP.
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