Updated the Guidelines for the valuation of properties as collateral for credit exposures. The transparency and correctness of the estimation procedures are further strengthened
Principles, rules and procedures for the valuation of properties to guarantee credit exposures increasingly based on the transparency and correctness of the property valuation criteria referring overall to loan disbursement operations which in February 2022 reached amounts of 410 billion euros.
These are the Guidelines for the valuation of properties as collateral for credit exposures adopted by more than 180 banks representing over 80% of the Italian banking sector.
In this constantly evolving scenario, and on the occasion of the ABI conference “Credito al Credito 2022” today in Rome, the fourth update of the Guidelines drawn up with the Association of Real Estate Valuation Companies-Assovib was presented; the National College of Graduated Agro-technicians and Agro-technicians; the National College of Agricultural Experts and Graduate Agricultural Experts; the National Council of Conservative Landscape Architects Planners; the Council of the National Order of Agronomists and Forestry Doctors; the National Council of Surveyors and Graduated Surveyors; the National Council of Engineers; the National Council of Industrial Experts and Graduate Industrial Experts and Tecnoborsa (Organization of the Chamber of Commerce System for the development and regulation of the real estate economy), with the collaboration of Assoimmobiliare; Confedilizia; Fiabci-Italia (International Real Estate Federation); the Italian Institute of Real Estate Evaluation-Isivi; the Royal Institution of Chartered Surveyors-Rics and the European Group of Valuers' Associations – Tegova.
In particular, the Guidelines have been updated:
- the EBA guidelines on the granting and monitoring of loans;
- the 36th update of the Bank of Italy's “Supervisory Provisions for Banks”;
- to the most recent versions of the international (International Valuation Standards, IVS - 2022), European (European Valuation Standards, EVS - 2020) and the RICS-2022 Global Valuation Standards.
A specific focus was dedicated to the enhancement of energy efficiency and the degree of safety of the properties in estimating their market value.