glossario

These are fixed-rate Italian government securities. They have maturities ranging from two to 50 years and provide for the payment of interest every six months. Green BTPs have the same characteristics, but the proceeds are specifically earmarked for funding public expenditure with a positive impact on the environment.

On the other hand, for BTP Valore and BTP Futura, the interest increases by a predetermined amount, while for BTP€i and BTP Italia, yields are linked to European and Italian inflation trends, respectively. For BTP Valore, BTP Futura, and BTP Italia purchased at issuance, there is a premium for holding them until maturity (in the case of BTP Futura, the premium can also be paid before maturity and depends on Italian GDP growth).