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This article was published on April 7, 2016 at 08:10 hours.
the last change is the April 7, 2016 at 8:11.
ROME – The decree on banks since yesterday is the law of the State. The Senate has finally approved the measure by voting the trust that had been proposed by the government in the morning. Confidence was passed with 171 votes in favor, 105 against and one abstention. Given the fact that the Decree has not been amended in the Senate, the vote of confidence it directly also approved the text.
Since yesterday, therefore, the credit cooperative reform – which was the highlight of the Decree-banks – begins to take shape. It will be a long process, because the delegation measure the Bank of Italy to issue the implementing regulations on issues relating to the stability and competitiveness of the system. And this will take some months. The law leaves also space to more than 360 banks of cooperative credit and their associations to define for themselves how they give shape to the new group governance.
“He completed a long journey, tortuous and not always easy. But the end result reflects, almost in its totality, the self-reform project that we had developed. And we must be aware of this achievement and proud, “he commented yesterday Alessandro Azzi, President of Federcasse.
The reform provides for the membership of the BCC to a parent company incorporated under spa shape, whose net assets must not be less than one billion Euros. Although it allows the autonomous provinces of Bolzano and Trento to give life to separate local groups. The spa capital must always be held in major proportion by Bcc, subject to the possibility of the Ministry of Economy to authorize the descent below 51% if you need to find more resources. Control of the parent company on the Bcc is assured through a cohesion contract also it defines a system of cross guarantees for to pool the assets of more than 20 billion of the BCC and allow that the available assets of the more virtuous banks is partly constrained in favor the CBs in difficulty. The decree provides for the so-called way-out, or a way out for Bcc who do not want to join the new group. It has the option for banks with equity in excess of 200 million at December 31, 2015 to present instance, also jointly with other banks with less funds to transfer their banking business at a spa leaving the indivisible reserves held by the cooperative conferee it is further the mutual activities. The petition must be filed within 60 days from the date of entry into force of the law; the Bcc that use it must pay an amount equal to 20% of net assets.
The new law also establishes the criteria to be able to securitise performing loans availing of a public guarantee. The law provides the opportunity for the State to grant, for a period of 18 months from the entry into force of the law, a guarantee on liabilities issued in the non-performing loans securitization operations. The guarantees can be issued, in respect of a fee, only on the senior notes. Among the changes introduced by the amendments approved in the House there is the widening of the base of people who can access these measures to the financial intermediaries registered in the register. And again: the bottom of the Economy Ministry in support of these measures goes from 100 to 120 million euro.
The measure also provides that the registration tax, mortgage and land, in judicial sales is no longer determined at a rate of 9% (as at present) but the extent ‘fixed 200 EUR’ . But while business has confirmed the obligation to sell within two years, the same obligation resale jumps if the private buying a first home. Among the innovations introduced with the amendments to Cemera there is also a provision for fines. The Highway Code states that it obtains a reduced penalty of 30% if payment is made within five days of the dispute or notification. For payments other than cash or by postal order, the discount will be valid if “the credit in favor of the administration takes place within two days from the payment due date”, ie within seven days. Then there is the stop all’anatocismo, preventing the accrual of interest on interest for current accounts, payment accounts and also on funds drawn on credit cards.
And again. The law contains a provision for companies in bankruptcy proceedings or in special administration and which also benefit Tercas. The measure makes it fiscally irrelevant voluntary contributions received from persons under insolvency procedures. A tax benefit is retroactive to 24 months and, therefore, can also be used by Tercas, whose proceedings are ended September 30, 2014, and has received 80 million by way of voluntary contributions.
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