The Central Bank of the Republic of San Marino announced that San Marino has signed its Association Agreement with the European Union, scheduled to enter into force in early 2027. The agreement provides for participation in the EU single market under European rules, equal competition and full reciprocity. Financial sector access will be phased in and conditional on a positive assessment of San Marino’s regulatory and supervisory frameworks, involving European supervisory authorities. The signing follows the central bank’s earlier explanation of how financial services passporting would operate under the agreement. Access would depend on assessments of EU rule implementation, supervisory capacity and the financial system, with individual sectors able to enter progressively rather than simultaneously. In remarks accompanying the signing, Central Bank Director General Andrea Vivoli linked the agreement to earlier financial system restructuring addressing asset quality, capital adequacy, governance and profitability. He emphasized that integration depends on sound regulation and effective supervision.
Central Bank of the Republic of San Marino reports EU Association Agreement signing with phased financial sector access
The Central Bank of the Republic of San Marino announced that San Marino has signed its EU Association Agreement, scheduled to enter into force in early 2027. Financial sector access to the single market will be phased in and depend on a positive assessment of the country’s regulatory and supervisory frameworks, involving European supervisory authorities.