This square is named after a wheat reserve (peculio frumentario) where local inhabitants could buy wheat for a modest sum. The arch on the viewing terrace behind the Monte di Pietà is believed to have come from a synagogue in what was probably the Jewish quarter of Castroreale. The Santissimo Salvatore church has still not been completely repaired following the 1978 earthquake, which resulted in the collapse of part of its bell tower.