Authorization for measures to support corporate liquidity approved

The ABI, with a circular letter already circulated to all the Associates this morning, informed the banks that the European Commission approved this night the indispensable authorization foreseen in the Law Decree n. 23 of 8 April 2020 to make operational the important measures to support the liquidity of companies damaged by the emergency of COVID-19.

Given the extreme need and urgency of immediate application by the banks, the documents and press releases of the European Commission have been provided in an annex to the circular letter.

The circular is signed by the President Antonio Patuelli, the General Manager Giovanni Sabatini and the Deputy General Manager Gianfranco Torriero.

The European Commission considers the measures provided for in the Law Decree to be consistent with European state aid legislation.

It is an important preparatory step for the full operation of the measures envisaged, especially relating to art. 1 (Sace guarantee) and art. 13 (SME Guarantee Fund).

Authorization for measures to support corporate liquidity approved