The Bank of Italy said Monday in an e-mailed statement that a European rule on regulating the acquisition of stakes in domestic banks is already effective in Italy despite the fact it has yet to be ratified by the Italian Parliament.

The Bank of Italy said that, according to the ruling, buyers of stakes in banks need to have a preliminary green-light from national central banks if they want to control a 10% or more stake. The previous limit was 5%.

The Italian central bank also said that potential buyers of stakes that can influence the governance or control the bank need preliminary authorization as well.

As of Monday, French giant Credit Agricole (ACA.FR) has a 5.8% in Italy's largest retail bank Intesa Sanpaolo (ISP.MI) and the Libyan government has around a 5% stake of UniCredit SpA (UCG.MI).

-By Sabrina Cohen, Dow Jones Newswires, +39 02 58219906; sabrina.cohen@dowjones.com
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