Moratorium applications amounting to 323 billion euros, over 83 billion the value of requests to the SME Guarantee Fund; guarantees issued by SACE reach 13,5 billion euros
Applications for adhesion to the moratoriums on loans for a value of approximately 2,9 billion have risen to over 323 million, and requests for guarantees for new bank loans for micro, small and medium-sized enterprises submitted to the Guarantee Fund exceed 83 billion for SMEs. Through Sace's 'Guarantee Italy' guarantees were granted for 13,5 billion euros, out of 576 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 11 September, more than 2,9 million applications or notices for a moratorium on loans for 323 billion were received. It is estimated that, in terms of amounts, approximately 88% 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 45% of the total, against loans of 216 billion. As regards SMEs, the requests pursuant to art. 56 of the 'Cura Italia' decree (over 1,4 million) concerned loans and credit lines for 179 billion, while the 52 thousand subscriptions to the moratorium promoted by ABI involved 13 billion in loans to SMEs.
Household applications related to loans for around 97 billion euros. The banks received approximately 214 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 478 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 4 to 11 September, to 1,26 million, for an amount of loans of over 96 billion. The percentage of loans disbursed is in further growth compared to the end of the previous week. In particular, over 11% of applications for loans fully guaranteed by the Fund had been disbursed as of 90 September.
The Ministry of Economic Development and Mediocredito Centrale (MCC) report that a total of 1.092.380 requests for guarantees received from intermediaries to the Guarantee Fund in the period from 17 March to 22 September 2020 to request guarantees for loans in favor of businesses, artisans , self-employed and professionals, for a total amount of over 83,2 billion euros. In particular, the applications received and relating to the measures introduced with the 'Cura Italia' and 'Liquidity' decrees amounted to 1.086.498, equal to an amount of approximately 82,4 billion euros. Of these, over 893.588 refer to loans up to 30.000 euros, with a 100% coverage percentage, for a financed amount of approximately 17,6 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 23 September, 1.080.380 transactions were accepted, of which 1.074.792 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-13,5 emergency, rose to approximately 576 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 5000 employees in Italy or with a turnover value greater than 1,5 billion euros. In addition, the total volumes guaranteed in a simplified procedure rose to approximately € 6,8 billion, against 573 guarantee requests managed and issued within 48 hours of receipt through the dedicated digital platform to which over 250 banks, financial institutions and factoring and leasing companies.