Credit and liquidity for households and businesses: applications for a moratorium rise to 302 billion euros, the value of requests to the SME Guarantee Fund over 91 billion; the volumes of loans guaranteed by SACE reach € 15,5 billion
Applications for adherence to the moratoriums on loans with a value increasing to 2,7 billion exceeded 302 million, and requests for guarantees for new bank loans for micro, small and medium-sized enterprises presented to the Guarantee Fund exceed 90 billion for SMEs. Guarantees of € 15,5 billion were granted through Sace's 'Garanzia Italia', out of 709 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 measures to support liquidity 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 (The information reported is collected in the context of the work of the Task Force for liquidity support measures. The task force works to make potential beneficiaries and banks aware of the new liquidity support procedures and facilitate their use; favors coordination and exchange of information between the parties; identifies and discloses the most appropriate solutions to any application problems and coordinates the collection and dissemination of data on the tools provided for by the legislation).
The Bank of Italy continues to collect data from banks, on a weekly basis, regarding the implementation of government measures relating to the 'Cura Italia' and 'Liquidity' decrees, category initiatives and those offered bilaterally by individual banks to their own clientele. On the basis of preliminary data, as of October 2, approximately 2,7 million requests or notices for a moratorium on loans for 302 billion were received. It is estimated that, in terms of amounts, approximately 94% 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 43% of the total, against loans of 197 billion. As regards SMEs, the requests pursuant to art. 56 of the 'Cura Italia' decree (almost 1,3 million) concerned loans and credit lines for 158 billion, while the 62 thousand subscriptions to the moratorium promoted by ABI concerned 16 billion in loans to businesses.
Questions from families (the “households” category used here also includes some companies other than non-financial companies, such as craft businesses) concerned loans for approximately 95 billion euros. The banks received approximately 216 thousand applications for the 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 541 thousand subscriptions, for about 24 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 25 September to 2 October, to 1,32 million, for an amount of loans of over 104 billion. The percentage of loans disbursed is in further growth compared to the end of the previous week. In particular, over 2% of applications for loans fully guaranteed by the Fund had been disbursed as of 91 October.
The Ministry of Economic Development and Central Mediocredito (MCC) report that a total of 1.161.373 requests for guarantees received from intermediaries to the Guarantee Fund from 17 March to 13 October 2020 relating to loans to businesses, artisans, self-employed and professionals, for a total amount of over 91,1 billion euros. In particular, there were 1.154.890 applications relating to the measures introduced with the 'Cura Italia' and 'Liquidity' decrees, equal to an amount of approximately 90,3 billion euros. Of these, over 937.271 refer to loans of up to 30.000 euros, with a 100% coverage percentage, for a financed amount of approximately 18,4 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 October 14, 1.151.094 transactions were accepted, of which 1.144.866 pursuant to the 'Cura Italia' and 'Liquidity' decrees.
The total volumes of loans guaranteed under the “Guarantee Italy”, SACE's tool to support Italian companies affected by the Covid-15,5 emergency, rose to approximately 709 billion euros, for a total of 19 transactions. Of these, approximately € 7,8 billion relate to the first four transactions guaranteed through the ordinary procedure provided for by the Liquidity Decree, relating to loans to large companies with over 5.000 employees in Italy or with a turnover value greater than 1,5 billion euros. In addition, the total volumes of guaranteed loans in simplified procedure grew to approximately € 7,7 billion, against 705 requests for guarantees managed and issued within 48 hours of receipt through the dedicated digital platform to which over 250 banks, institutions are accredited. financial and factoring and leasing companies.