Functional Groups

The PUMA Interbank and Interfinance Functional Groups are the operational body of PUMA Cooperation.

The Functional Groups comprise representatives of banks, financial intermediaries and trade associations and they are selected and assigned to specific projects by members of the Strategic Committee.

The Functional Groups are coordinated by a representative of the Bank of Italy. Members of the Bank of Italy, of other national and / or European authorities and of other banks and financial intermediaries (referred to in Article 106 of the Consolidated Law on Banking), which are not part of the PUMA initiative may be invited by the Functional Groups to attend the PUMA meetings. Representatives of software or consulting companies operating in the accounting and regulatory field may also be invited to participate.

The Functional Groups carry out the following main activities:

  • analyse regulatory and technical documentation;
  • define procedures for the production of PUMA documentation to be published;
  • monitor the documents produced by the European cooperation group ‘BIRD’ (Banks’ Integrated Reporting Dictionary) and, if necessary, align the PUMA documentation accordingly;
  • innovate and maintain the procedure;
  • publish documents produced by the Functional Groups and approved by the Strategic Committee on the PUMA website.