the most significant novelty is represented by the alignment ......italian government securities...

Il DIrettore Del DebIto PubblIco

(Maria Cannata)

Dear Investor, The Italian Treasury is pleased to present you with the 2015 auction calendar, which combines elements from the past and

some innovative additions. The auction cycles have remained the same, as has the graphic layout used in past years: a selection of celebrative coins minted

by the Italian Republic’s Mint that accompanies the succession of months with some esthetic pleasing features. Moreover the color codes are unchanged in order to distinguish between auction announcement dates (blue), auction dates (red) and auction settlement dates (black).

As usual, non-working days are marked by a red hedge and a red date, with a clearer nuance for national holidays that are working days for the TARGET system.

The most significant novelty is represented by the alignment between primary and secondary markets in the timing of auction settlements: in fact, with very few exceptions, from 2015 an auction taking place at day T will settle - for all securities – at day T+2, consistent with what is already happening since the past October 6th for all secondary market negotiations carried out on electronic platforms throughout the Eurozone. This change aims at harmonizing market practices to make market activity more functional and efficient, in line with the European standards.

In addition to the calendar, more detailed information will be provided by the Guidelines on Public Debt Management and the Quarterly Issuance Programs, both published on the Public Debt website www.publicdebt.it together with many other communications and information.

2014 has been a very positive year for the Italian government debt market. I wish, and in particular I wish you, an even better 2015 thanks also to the contribution of this calendar in planning your investment choices.

Italian Government Securities Euro Issues

JANUARY 2015

€ 5 silver S.U. and proof coin dedicated to the 50th Anniversary of TV broadcasting in Italy

2004Designer: Uliana Pernazza

Bills/zero-coupon settlementM-l settlement

Bills announcement

M-l auction announcement

Bills auction

Medium-long term auction

Bills settlement

M-l settlement

Zero-coupon/BTP€i announcement

Bills announcement


Zero-coupon/BTP€i auction

Bills auction

Medium-long term auctionZero-coupon/BTP€i settlement

Bills settlement

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JANUARY 2015 DECEMBER 2014M-l settl.

Bills ann.M-l ann.

Bills auc.M-l term auc.

Bills settl.

M-l settl.

Bills/CTZ ann. M-l ann.

Bills/CTZ auc.M-l term auc.

JANUARY 2015

M-l settl. Bills/CTZ settl.

Bills ann.M-l ann.


Bills settl.M-l settl.

CTZ/€i ann. Bills ann.

M-l ann.CTZ/€i auc.

Bills auc.M-l term auc. CTZ/€i settl.

Bills settl.

FEBRUARY 2015

M-l settl.

Bills ann.

M-l ann.


Bills settl.

M-l settl.

CTZ/€i ann.Bills ann.



Bills settl.

€ 5 silver S.U. and proof coin dedicated to the 50th Anniversary of TV broadcasting in Italy

2004Designer: Uliana Pernazza

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FEBRUARY 2015

€ 10 silver proof coindedicated to the 100th Anniversary of the foundation

of the Futurist Art Movement2009

Designer: Claudia Momoni

M-l settlement

Bills announcement


Bills auction


Bills settlement

M-l settlement


Bills announcement



Bills auction


Bills settlement

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FEBRUARY 2015 JANUARY 2015


Bills ann.M-l ann.






Bills settl.

M-l settl.

Bills ann.

M-l ann.


Bills settl.

M-l settl.




Bills settl.

FEBRUARY 2015 MARCH 2015

M-l settl.

Bills ann.

M-l ann.


Bills settl.

M-l settl.



Bills auc.

M-l term auc. CTZ/€i settl.Bills settl.

€ 10 silver proof coindedicated to the 100th Anniversary of the foundation

of the Futurist Art Movement2009

Designer: Claudia Momoni

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MARCH 2015

€ 10 silver proof coin - “Italy of Arts” series dedicated to Fénis - Valle d’Aosta

2013Designer: Maria Carmela Colaneri

M-l settlement

Bills announcement


Bills auction


Bills settlement

M-l settlement


Bills announcement



Bills auction


Bills settlement

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MARCH 2015 FEBRUARY 2015

M-l settl.

Bills ann.

M-l ann.


Bills settl.

M-l settl.




Bills settl.

MARCH 2015

M-l settl.

Bills ann.

M-l ann.


Bills settl.

M-l settl.



Bills auc.


APRIL 2015M-l settl.

Bills ann.M-l ann.

Bills auc.

M-l term auc.Bills settl.

M-l settl.


M-l ann.

CTZ/€i auc.Bills auc.


€ 10 silver proof coin - “Italy of Arts” series dedicated to Fénis - Valle d’Aosta

2013Designer: Maria Carmela Colaneri

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APRIL 2015

€ 5 silver S.U. and proof coin dedicated to the 500th Anniversary of the death of Donato Bramante

2014Designer: Maria Angela Cassol

M-l settlement

Bills announcement


Bills auction


Bills settlement

M-l settlement


Bills announcement



Bills auction


Bills settlement

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APRIL 2015M-l settl.

Bills ann.

M-l ann.


Bills settl.

M-l settl.



Bills auc.


M-l settl.

Bills ann.M-l ann.

Bills auc.


M-l settl.


M-l ann.



M-l settl.

Bills ann.M-l ann.






Bills settl.€ 5 silver S.U. and proof coin dedicated to the 500th Anniversary of the death of Donato Bramante

2014Designer: Maria Angela Cassol

MARCH 2014 APRIL 2014 MAY 2014123456789

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MAY 2015

€ 20 gold proof coin - “Flora in Art” series dedicated to the Baroque

2014Designer: Annalisa Masini

M-l settlement

Bills announcement


Bills auction


Bills settlement

M-l settlement


Bills announcement



Bills auction


Bills settlement

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MAY 2015 APRIL 2015M-l settl.

Bills ann.M-l ann.

Bills auc.


M-l settl.


M-l ann.



MAY 2015 JUNE 2015

M-l settl.

Bills ann.M-l ann.






Bills settl.

M-l settl.

Bills ann.

M-l ann.


Bills settl.

M-l settl.

€i ann.Bills/CTZ ann.

M-l ann. €i auc.Bills/CTZ auc.

€i settl.M-l term auc. Bills/CTZ settl.

€ 20 gold proof coin - “Flora in Art” series dedicated to the Baroque


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JUNE 2015

€ 5 silver S.U. and proof coin dedicated to the 60th Anniversary of the Italian Republic

2006Designer: Luciana De Simoni

M-l settlement

Bills announcement


Bills auction


Bills settlement

M-l settlement

BTP€i announcement

Bills/zero-coupon announcement

BTP€i auctionM-l auction announcement

Bills/Zero-coupon auction

BTP€i settlement

Medium-long term auctionBills/zero-coupon settlement

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JUNE 2015 MAY 2015 JULY 2015JUNE 2015

M-l settl.

Bills ann.M-l ann.






Bills settl.

M-l settl.

Bills ann.M-l ann.

Bills auc.


M-l settl.




Bills settl.

M-l settl.

Bills ann.

M-l ann.


Bills settl.

M-l settl.




€ 5 silver S.U. and proof coin dedicated to the 60th Anniversary of the Italian Republic


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JULY 2015

€ 5 silver S.U. coin dedicated to the Italian Presidency of the Council of the European Union


M-l settlement

Bills announcement


Bills auction


Bills settlement

M-l settlement


Bills announcement



Bills auction


Bills settlement

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JULY 2015 JULY 2015 AUGUST 2015JUNE 2015

M-l settl.

Bills ann.M-l ann.

Bills auc.


M-l settl.




Bills settl.

M-l settl.

Bills ann.

M-l ann.


Bills settl.

M-l settl.

CTZ/€i ann.

Bills ann.M-l ann.


M-l term auc. CTZ/€i settl.

Bills settl.

M-l settl.

Bills ann.

M-l ann.


Bills settl.

M-l settl.




€ 5 silver S.U. coin dedicated to the Italian Presidency of the Council of the European Union


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AUGUST 2015

€ 10 silver proof coin dedicated to the Bimillenary of the death of Augustus

2014Designer: Roberto Mauri

M-l settlement

Bills announcement


Bills auction


Bills settlement

M-l settlement


Bills announcement



Bills auction


Bills settlement

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AUGUST 2015 JULY 2015 AUGUST 2015 SEPTEMBER 2015

M-l settl.

Bills ann.M-l ann.

Bills auc.


M-l settl.




Bills settl.

M-l settl.

Bills ann.

M-l ann.


Bills settl.

M-l settl.

CTZ/€i ann.

Bills ann.M-l ann.



Bills settl.

M-l settl.

Bills ann.M-l ann.






Bills settl.

€ 10 silver proof coin dedicated to the Bimillenary of the death of Augustus

2014 Designer: Roberto Mauri

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SEPTEMBER 2015

€ 5 silver S.U. and proof coin dedicated to the 150th Anniversary of the birth of Gabriele D’Annunzio


M-l settlement

Bills announcement


Bills auction


Bills settlement

M-l settlement


Bills announcement



Bills auction


Bills settlement

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SEPTEMBER 2015 AUGUST 2015 SEPTEMBER 2015 OCTOBER 2015

M-l settl.

Bills ann.

M-l ann.


Bills settl.

M-l settl.

CTZ/€i ann.

Bills ann.M-l ann.



Bills settl.

M-l settl.

Bills ann.M-l ann.






Bills settl.

M-l settl.

Bills ann.M-l ann.






Bills settl.

€ 5 silver S.U. and proof coin dedicated to the 150th Anniversary of the birth of Gabriele D’Annunzio


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OCTOBER 2015

€ 10 silver proof coin - “Italy of Arts” series dedicated to Atri - Abruzzo

2014Designer: Silvia Petrassi

M-l settlement

Bills announcement


Bills auction


Bills settlement

M-l settlement


Bills announcement



Bills auction


Bills settlement

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OCTOBER 2015 SEPTEMBER 2015 OCTOBER 2015 NOVEMBER 2015M-l settl.

Bills ann.M-l ann.






Bills settl.

M-l settl.

Bills ann.M-l ann.






Bills settl.

M-l settl.

Bills ann.

M-l ann.


Bills settl.

M-l settl.

CTZ/€i ann.

Bills ann.M-l ann.



Bills settl.

€ 10 silver proof coin - “Italy of Arts” series dedicated to Atri - Abruzzo

2014Designer: Silvia Petrassi

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NOVEMBER 2015

€ 10 silver S.U. coin dedicated to the Italy Champion of FIFA World Cup


M-l settlement

Bills announcement


Bills auction


Bills settlement

M-l settlement


Bills announcement



Bills auction


Bills settlement

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NOVEMBER 2015 OCTOBER 2015 DECEMBER 2015NOVEMBER 2015M-l settl.

Bills ann.M-l ann.






Bills settl.

M-l settl.

Bills ann.

M-l ann.



M-l ann. Bills/CTZ ann.


M-l settl.

Bills ann.

M-l ann.


Bills settl.

M-l settl.

CTZ/€i ann.

Bills ann.M-l ann.



Bills settl.

€ 10 silver S.U. coin dedicated to the Italy Champion of FIFA World Cup


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DECEMBER 2015

€ 50 gold proof coin - “Fauna in Art” series dedicated to the Middle Ages


M-l settlement

Bills announcement


Bills auction


Bills settlement

M-l settlement

M-l auction announcementBills and zero-coupon announcement

Bills/zero-coupon auction


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DECEMBER 2015 DECEMBER 2015 JANUARY 2016NOVEMBER 2015M-l settl.

Bills ann.

M-l ann.



M-l ann. Bills/CTZ ann.



Bills ann.M-l ann.






Bills settl.

M-l settl.

Bills ann.

M-l ann.


Bills settl.

M-l settl.

CTZ/€i ann.

Bills ann.M-l ann.



Bills settl.

€ 50 gold proof coin - “Fauna in Art” series dedicated to the Middle Ages


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A cura del Dipartimento del Tesoro(Segretaria di Redazione: Emanuela Bedoni)

Per il materiale fotografico si ringrazia l’Istituto Poligrafico e Zecca dello Stato – S.p.A.

Stampa: Istituto Poligrafico e Zecca dello Stato – S.p.A.© Copyright 2015

the most significant novelty is represented by the alignment ......italian government securities...

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