In appreciating the intensification of positions aimed at supporting an urgent modification of the European rules contained in the EBA guidelines on the new definition of "default", the ABI Director General, John Sabatini, stressed that "Since September 2015, when the EBA started the activities aimed at defining the new rules on default, the ABI has strongly highlighted in the responses to the public consultations the excessive rigidity of the thresholds indicated by the 'EBA and the potential negative repercussions and risks associated with the new rules. The attention to the issue, from 2016 onwards, has always been maximum and the activity aimed at obtaining changes to the rules was followed by a systematic action by the ABI in concert with the business and consumer associations for the purpose of adequate and timely dissemination of information to customers. This activity took the form, among other things, in the creation of explanatory Guides such as the Guide, aimed at companies, on - The new European rules on default - prepared in collaboration by ABI and the main associations representing companies, or the - Technical guide to the new European rules on the definition of default for individuals - and other tools such as the infographics - LOANS MORE ATTENTION TO DEADLINES AND REPAYMENTS -, created with the consumer associations. Documents published as early as July 2019 and available on the ABI website. "
The new rules of the EBA
Starting from 1 January 2021, Italian credit institutions will have to apply the new rules on current accounts in red established byEba - European banking authority. In particular, the European Banking Association decided the Rid block , reporting of the client to the central credit center in the event of three missed monthly payments of at least 100 euros to a red account.
The red of the current account is a particular form of financing that the bank grants to its customer in order to make any type of payment, checks, wire transfers, withdrawals, even in case of lack of funds in the account.
What is the risk with the red counter-current? According to the new Eba rules, from January 2021 the account holder who does not have sufficient funds for more than 90 days to pay the small sum of 100 euros will see freeze the Rid - Direct interbank relationship, that is the service with which the customer automatically authorizes his bank to accept debits from a particular creditor on his current account, such as the bank domiciliation of households. The Rid is mainly used to make periodic payments such as bills, mortgage or loan installments, rents, salaries, social security contributions, and much more.
Not only will the Rid be blocked, the bank will be obliged to report the customer to the Central Credit Register with the consequent inclusion of the account holder in the black list of bad payers, an event that will make any request for financing by the subject much more complicated.