Credit and liquidity for households and businesses: requests for a moratorium of 301 billion euros, over 96 billion the value of requests to the SME Guarantee Fund; the volumes of loans guaranteed by SACE reach 16,1 billion euros
Applications for adhesion to the moratoriums on loans for a value of 2,7 billion exceeded 301 million, and requests for guarantees for new bank loans for micro, small and medium-sized enterprises submitted to the Guarantee Fund for SMEs. Through SACE's 'Guarantee Italy', the volumes of guaranteed loans reach € 96 billion, out of 16,1 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 liquidity support measures adopted by the Government to deal with the Covid-19 emergency, which includes the Ministry of Economy and Finance, Ministry of Economic Development, Bank of Italy, Italian Banking Association, Mediocredito Centrale and Sace [1].
The Bank of Italy continues to collect from banks, on a weekly basis, data regarding the implementation of government measures relating to the 'Cura Italia' and 'Liquidity' decrees, the sector initiatives and those offered bilaterally by individual banks to their own clientele. On the basis of preliminary data as of October 16, approximately 2,7 million applications or notices for a moratorium on loans for 301 billion were received [2]. It is estimated that, in terms of amounts, approximately 94% 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; also due to the acceleration of applications in the reference week, the remainder is being examined.
More specifically, applications from non-financial companies represent 43% of the total, against loans of 194 billion. As regards SMEs, the requests pursuant to art. 56 of the 'Cura Italia' decree (almost 1,3 million) concerned loans and credit lines for 156 billion. The 59 subscriptions to the moratorium promoted by the ABI involved 17 billion in loans to businesses.
Household applications [3] concerned loans of around € 95 billion. The banks received approximately 217 thousand applications for the 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 548 thousand subscriptions, for about 25 billion in loans.
Based on 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 9 to 16 October, to 1,36 million, for a amount of loans of over 106 billion. The percentage of loans disbursed is in further growth compared to the end of the previous week. In particular, almost 16% of applications for loans fully guaranteed by the Fund had been disbursed as of 92 October.
The Ministry of Economic Development and Central Mediocredito (MCC) report that a total of 1.201.183 requests for guarantees received from intermediaries to the Guarantee Fund from 17 March to 27 October 2020 relating to loans to businesses, artisans, self-employed and professionals, for a total amount of over 96,6 billion euros. In particular, there were 1.194.316 applications relating to the measures introduced with the 'Cura Italia' and 'Liquidity' decrees, equal to an amount of approximately 95,8 billion euros. Of these, over 957.958 refer to loans of up to 30.000 euros, with a 100% coverage percentage, for a financed amount of approximately 18,8 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 October 28, 1.190.489 transactions were accepted, of which 1.183.887 pursuant to the 'Cura Italia' and 'Liquidity' decrees.
The total volumes of loans guaranteed under the “Guarantee Italy”, SACE's tool to support Italian companies affected by the Covid-16,1 emergency, rose to approximately 792 billion euros, for a total of 19 transactions. Of these, approximately € 7,8 billion relate to the first four transactions guaranteed through the ordinary procedure provided for by the Liquidity Decree, relating to loans to large companies with over 5000 employees in Italy or with a turnover value greater than 1,5 billion euros. In addition, the total volumes of guaranteed loans in simplified procedure grew to approximately € 8,3 billion, against 788 requests for guarantees managed and issued within 48 hours of receipt through the dedicated digital platform to which over 250 banks, institutions are accredited. financial and factoring and leasing companies.