Credit and liquidity for households and businesses: requests for a moratorium reach 300 billion euros, over 72,5 billion the value of requests to the SME Guarantee Fund; the guarantees issued by SACE rise to 12,7 billion euro
Applications for adherence to the moratoriums on loans reached € 300 billion and guarantee requests for new bank loans for micro, small and medium-sized enterprises presented to the Guarantee Fund for SMEs exceed 72,5 billion. Guarantees for 12,7 billion euros were granted through Sace's 'Garanzia Italia', out of 450 requests received.
These are the main results of the weekly survey carried out by the task force set up to promote the implementation of the measures to support liquidity adopted by the Government to deal with the Covid-19 emergency, which includes the Ministry of Economy and Finance, the Ministry of Economic Development, Bank of Italy, Italian Banking Association, Mediocredito Centrale and Sace.
The Bank of Italy continues to collect from banks, on a weekly basis, data on the implementation of government measures relating to the 'Cura Italia' and 'Liquidity' decrees, the category initiatives and those offered bilaterally by individual banks to their own clientele. On the basis of preliminary data, as of August 14, over 2,7 million applications or notices for a moratorium on loans were received, for 300 billion euros. It is estimated that, in terms of amounts, approximately 93% of the requests or communications relating to the moratoriums have already been accepted by the banks, albeit with differences between the various measures; about 3% have so far been rejected; the remainder is under examination.
More specifically, applications from non-financial companies represent 44% of the total, against loans for 196 billion euros. As regards SMEs, the requests pursuant to art. 56 of the 'Cura Italia' decree (almost 1,3 million) concerned loans and credit lines for over 158 billion, while the 51 thousand subscriptions to the moratorium promoted by ABI involved over 12 billion in loans to SMEs.
Household applications related to loans for around 95 billion euros. The banks received approximately 211 thousand applications for suspension of the mortgage payments on the first home (access to the so-called Gasparrini Fund), for an average amount of approximately 94 thousand euros. The moratoriums of ABI and Assofin aimed at families have collected 466 thousand subscriptions, for about 20 billion in loans.
On the basis of the weekly survey by the Bank of Italy, it is estimated that the requests received by intermediaries for access to the Guarantee Fund for SMEs continued to grow in the week from 7 to 14 August, exceeding 1,19 million, for a amount of loans of approximately 89 billion. The percentage of loans disbursed is in further growth compared to the end of the previous week. In particular, more than 14% of applications for loans fully guaranteed by the Fund had been disbursed as of 87 August.
The Ministry of Economic Development and Mediocredito Centrale (MCC) report that a total of 1.009.515 requests received from intermediaries to the SME Guarantee Fund from 17 March to 25 August 2020 to request guarantees for loans in favor of businesses, artisans, self-employed and professionals, for a total amount of over 72,5 billion euros. In particular, the applications received and relating to the measures introduced with the 'Cura Italia' and 'Liquidity' decrees amounted to 1.004.341, equal to an amount of approximately 71,9 billion euros. Of these, over 845.150 refer to loans of up to 30.000 euros, with 100% coverage, for a financed amount of approximately 16,7 billion euros which, according to the provisions of the law, can be disbursed without waiting for the outcome. definitive of the preliminary investigation by the Manager. As of August 26, 991.704 transactions have been accepted, of which 986.936 pursuant to the 'Cura Italia' and 'Liquidity' decrees.
The total volumes of guarantees under the “Guarantee Italy”, SACE's tool to support Italian companies affected by the Covid-12,7 emergency, rose to approximately 450 billion euros, for a total of 19 transactions. Of these, approximately € 6,7 billion concern the first three transactions guaranteed through the ordinary procedure provided for by the Liquidity Decree, relating to loans to large companies, with over 5.000 employees in Italy or with a turnover value greater than 1,5 billion euros. The total volumes guaranteed in a simplified procedure rose to over 6 billion euros, against 447 requests for Guarantee, all managed and issued within 48 hours of receipt through the dedicated digital platform to which over 250 banks, financial institutions and factoring companies are accredited and leasing.