Credit and liquidity for households and businesses: applications for a moratorium exceed € 300 billion, the value of requests to the SME Guarantee Fund over 74,7 billion; the guarantees issued by SACE rise to 12,9 billion euros
Applications for adherence to the moratoriums on loans exceeded € 300 billion and guarantee requests for new bank loans for micro, small and medium-sized enterprises presented to the Guarantee Fund for SMEs exceeded 74,7 billion. Through Sace's 'Guarantee Italy' guarantees for 12,9 billion euros were granted, out of 468 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 in support of 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 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 August 21, more than 2,7 million applications or notices for a moratorium on loans were received, for 301 billion. It is estimated that, in terms of amounts, approximately 93% 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; the remainder is under examination.
More specifically, applications from non-financial companies represent 44% of the total, against loans for 196 billion euros. As regards SMEs, the requests pursuant to art. 56 of the 'Cura Italia' decree (almost 1,3 million) concerned loans and credit lines for over 158 billion, while the 51 thousand subscriptions to the moratorium promoted by ABI involved over 12 billion in loans to SMEs.
Household applications [2] concerned loans of around € 95 billion. The banks received approximately 213 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 467 thousand subscriptions, for about 20 billion in loans.
Based on the weekly survey by the Bank of Italy, it is estimated that the requests received from intermediaries for access to the Guarantee Fund for SMEs continued to grow in the week from 14 to 21 August, exceeding 1,2 million, for a amount of loans of over 91 billion. The percentage of loans disbursed is in further growth compared to the end of the previous week. In particular, almost 21% of applications for loans fully guaranteed by the Fund had been disbursed as of 89 August.
The Ministry of Economic Development and Mediocredito Centrale (MCC) report that a total of 1.028.852 requests received from intermediaries to the Guarantee Fund in the period from 17 March to 1 September 2020 to request guarantees for loans in favor of businesses, artisans, self-employed and professionals, for a total amount of over 74,7 billion euros. In particular, the applications received relating to the measures introduced with the 'Cura Italia' and 'Liquidity' decrees amounted to 1.023.531, equal to an amount of approximately 74,1 billion euros. Of these, over 857.519 refer to loans of up to 30.000 euros, with a 100% coverage percentage, for a financed amount of approximately 17 billion euros which, according to the provisions of the law, can be disbursed without waiting for the final outcome of the investigation by the Manager. As of 2 September, 1.011.585 transactions were accepted, of which 1.006.632 pursuant to the 'Cura Italia' and 'Liquidity' decrees.
The total volumes of guarantees under the “Guarantee Italy”, SACE's tool to support Italian companies affected by the Covid-12,9 emergency, rose to approximately 468 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 € 6,2 billion, against 465 guarantee requests managed and issued within 48 of receipt through the dedicated digital platform to which over 250 banks, financial institutions and factoring companies are accredited. and leasing.