MEF: credit and liquidity for families and businesses

MEF: credit and liquidity for families and businesses

Over 295 billion euros in applications for a moratorium on loans; over 61 billion the value of applications to the Guarantee Fund for SMEs; € 10,5 billion in guarantees issued by SACE

Applications for joining the moratorium on loans are confirmed at high volumes of € 2,7 million for a value of approximately € 295 billion and guarantee requests for new bank loans for micro, small and small businesses exceed 910 thousand. medium-sized enterprises submitted to the Guarantee Fund for SMEs. Guarantees of 10,5 billion euro were granted through Sace's 'Italy Guarantee', out of 312 requests received.

These are the main results of the weekly survey carried out by the task force for 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 , Bank of Italy, Italian Banking Association, Mediocredito Centrale and SACE [1].

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. Based on preliminary data, 17 million loan moratorium applications or notifications were received on July 2,7, for 295 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 194 billion). As regards SMEs, requests pursuant to art. 56 of the 'Cura Italia' Decree (over 1,2 million) related to loans and credit lines of 158 billion, while the adhesions to the moratorium promoted by the ABI (50 thousand) concerned 12 billion of loans to SMEs.

Household applications [2] concern loans for around 92 billion euros. The banks received approximately 202 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 452 thousand adhesions, for about 19 billion loans.

On the basis of the weekly survey of 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 10 to 17 July, at 1,07 million, for a loan amount of almost 79 billion. Loans disbursed increased even more rapidly. In particular, almost 17% of applications for loans fully guaranteed by the Fund had been disbursed as of 87 July. 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) report that a total of 910.121 requests were received from the Guarantee Fund in the period from March 17 to July 28, 2020 for guarantees for loans in favor of businesses, artisans, self-employed and professionals, for a total amount of over 61,1 billion euro. In particular, the applications received and relating to the measures introduced with the 'Cura Italia' and 'Liquidity' decrees are 905.600, equal to an amount of approximately 60,6 billion euros. Of these, over 777.857 refer to loans of up to 30.000 euros, with a 100% coverage percentage, for a funded amount of around 15,4 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 July 29, 896.494 transactions were accepted, of which 892.267 pursuant to the 'Cura Italia' and 'Liquidity' Dl.

The total volumes of guarantees under the “Guarantee Italy”, SACE's tool to support Italian companies affected by the Covid-10,5 emergency, rose to approximately 19 billion euros. 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 € 3,8 billion, against 309 guarantee requests managed and issued within 48 of receipt through the dedicated digital platform to which over 250 banks and factoring and leasing companies are accredited. .

MEF: credit and liquidity for families and businesses