The possibility of requesting suspension or extension is extended to loans at 31 January 2020. The moratorium refers to loans to micro, small and medium-sized enterprises damaged by the epidemiological emergency "COVID-19".
The suspension of the payment of the principal portion of the loan installments can be requested for up to one year. The suspension is applicable to medium / long-term loans, also completed through the issue of bills of exchange and leasing transactions. In this second case, the suspension concerns the implicit capital share of the leasing payments.
For the extension operations, it is instead foreseen that the extension of the duration of the loan can go up to 100% of the residual duration of the amortization.
The agreement provides that, where possible, banks may apply more favorable measures for businesses than those provided for in the Agreement itself and it is hoped that, in order to ensure maximum timeliness in responding, the preliminary investigation procedures will be accelerated.
The ABI and the associations representing the signatory companies undertake to promote, with the competent European and national authorities, an amendment to the current supervisory provisions regarding moratoriums (so-called forbearances), necessary in an emergency situation, such as the current one.
The ABI and the associations representing companies also request to expand the operations of the Guarantee Fund for SMEs and additional measures to facilitate access to credit.
ABI, Alliance of Italian Cooperatives (AGCI, Confcooperative, Legacoop) CIA-Agricoltori Italiani, CLAAI, Coldiretti, Confagricoltura, Confapi, Confedilizia, Confetra, Confimi Industry, Confindustria and Business Network Italy (Confersercenti, Casartigiani, Cna, Confartigianato, Confcommercio) have agreed these provisions in a specific Addendum to the Credit Agreement 2019.