The CBSM was established through a merger between the Istituto di Credito Sammarinese (San Marino Credit Institute, a body with public and private shareholders acting as the central bank of the Republic of San Marino) and the Ispettorato per il Credito e le Valute (Inspectorate for Credit and Currencies, a public administration office charged with supervisory and combating money-laundering activities).

The possessory title of these shares is reserved to the state, as majority shareholder, and to San Marino undertakings engaged in credit, financial and insurance activities.

[2] In order to achieve the objectives and carry out the functions assigned by law, the central bank, through its organs and in its respective areas of competence, may adopt measures, to include those in the form of regulations, orders, circulars, standard letters, recommendations and instructions, which will, besides being of a cogent nature in dealings with supervised parties, also perform the function of explaining and interpreting the tasks assigned to the central bank by Law.

The central bank, through the Committee for Credit and Savings, will forward information to the Congress of State on the more significant facts noted or obtained in the exercise of its institutional functions.

[5] The Supervision Committee is vested by law with the power of carrying out the supervisory functions on the banking, financial and insurance industry of San Marino, through inspections, reporting activity and regulation.