Credit and liquidity for households and businesses: “Applications for a moratorium on loans for 297 billion euros, over 65 billion for applications for the Guarantee Fund for SMEs. 11,6 billion the guarantees issued by SACE. Abi: "urgent to extend the moratorium measures 12 months".
The Mef in a press release announces that they are confirmed on high volumes, and substantially stable a 2,7 million for a value of approximately 297 billion, requests to join the moratoriums on loans and requests for guarantees for new bank loans for micro, small and medium-sized enterprises submitted to the Guarantee Fund for SMEs exceed € 65 billion. Through 'Italy WarrantySace guarantees were granted for 11,6 billion euro, out of 364 requests received.
These are the main results of the weekly survey carried out by the task force established 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, the Ministry of Economic Development, the Bank of Italy, the Italian Banking Association , Mediocredito Centrale and Sace.
The Bank of Italy continues to collect from the 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 the individual banks to its own customers. On the basis of preliminary data, at July 24, just over 2,7 million applications or communications for a moratorium on loans were received, for 297 billion. It can be estimated that, in terms of amounts, about 93% of the requests or communications relating to the moratoriums have already been accepted by the banks, albeit with differences between the various measures; approximately 3% have so far been rejected; the remainder is being examined.
In more detail, 44% of the requests come from non-financial companies (against loans for 195 billion). As regards SMEs, requests pursuant to art. 56 of the 'Cura Italia' Decree (over 1,2 million) related to loans and credit lines for over 158 billion, while the adhesions to the moratorium promoted by the ABI (50 thousand) concerned over 12 billion in loans to SMEs.
Household applications concern loans for around 93 billion euros. The banks received approximately 203 thousand requests to suspend the installments of the mortgage on the first house (access to the so-called Gasparrini Fund), for an average amount of approximately 94 thousand euros. The moratoriums of the ABI and Assofin aimed at families have collected almost 456 thousand adhesions, for about 19 billion loans.
On the basis of the weekly survey by the Bank of Italy, it is estimated that the requests for financing received by intermediaries for access to the Guarantee Fund for SMEs continued to grow in the week from 17 to 24 July, up to 1,11 million , for a loan amount of almost 82 billion. Loans disbursed increased even more rapidly: as of 24 July, almost 87% of applications for loans fully guaranteed by the Fund had been disbursed. The percentage of loans disbursed is further increasing compared to the end of the previous week, both in terms of number of requests and in terms of amounts.
The Ministry of Economic Development and Mediocredito Centrale (MCC) reports that a total of 943.839 requests for guarantees received from the Guarantee Fund in the period from 17 March to 4 August 2020 to request guarantees for loans in favor of businesses, artisans, self-employed and professionals , for a total amount of over 65,1 billion euros. In particular, the applications received and relating to the measures introduced with the 'Cura Italia' and 'Liquidity' decrees are 939.137, equal to an amount of approximately 64,5 billion euros. Of these, over 800.617 refer to loans of up to 30.000 euros, with a 100% coverage percentage, for a funded amount of around 15,9 billion euros which, according to the provisions of the standard, can be disbursed without waiting for the outcome final investigation by the Operator. As of August 5, 930.011 transactions were accepted, of which 925.564 pursuant to the Dl 'Cura Italia' and 'Liquidity'.
The total volumes of guarantees under the “Guarantee Italy”, SACE's tool to support Italian companies affected by the Covid-11,6 emergency, rose to approximately 364 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 € 4,9 billion, against 361 guarantee requests managed and issued within 48 of receipt through the dedicated digital platform to which over 250 banks, financial institutions and factoring and leasing.
The General Manager of ABI also spoke today, John Sabatini who sent a letter to the Minister Gualtieri, also on behalf of the President Antonio Patuelli, hoping for the timely extension for at least 12 months of the moratorium measures provided for by DL Cura Italia in favor of small and medium-sized enterprises in order to facilitate the recovery of economic activities in a context that still shows difficulties in restarting a sustained expansion cycle.
The director Sabatini in fact declared: "The need to significantly extend the moratoriums is also connected to the fact of taking advantage of the provisions of the guidelines of the European Banking Authority of April 2020, which exclude the reclassification in the category "exposures subject to forbearance measures" of the positions that benefit from the moratorium if the request or extension of the same takes place before 30 September 2020 and in consideration of the fact that from XNUMX January the new rules for defining the default will come into force which modify the criteria for the classification of loans as "impaired credit", which will significantly increase the possibility of reclassifying the exposures to "impaired loans" of economically sound companies which however have temporary financial difficulties in meeting the loan repayment deadlines ".