Una nuova figura di pegno nel c.d. "decreto banche"

In this essay the Author analyses the provisions of the so called «Banking Decree» n. 59/2016 concerning the «non-possessory security right». e paper assesses the main characters of this legal en- tity, showing rst of all its impact on the Italian security rights system. Moreover, the paper emphasizes the connection between these provisions and others that have deeply changed the legal framework during last years. Considering the di erences between this security right on movables and the traditional one, regulated in the Italian Civil Code (art. 2784 ss. c.c.), the Author concludes that it is reductive to focus only on the non-possessory character instead on other features, which actually make this legal mechanism a new kind of collateral.