The building Monte di Pietà was projected by will of Ludovico il Moro in the area once called Contrada dei Tre Monasteri ("District of the Three Monasteries"). At a later time, during renovation, one of the monasteries, the Convent of St. Claire, has been included in this building. However, some traces of the old convent can still be found: on the back of the structure parts of frescoes can be seen inside a hall.