Time.news – “There is a risk, at the end of June, when the moratoriums on nearly 300 billion euros of bank loans will expire, that 2.7 million Italian companies and families suddenly find themselves on the verge of substantial financial distress. “That’s when Fabi, the bank workers’ union denounces, explaining that in about 100 days the last extension – introduced by government with the budget law for 2021 – the rule that allowed, from the beginning of the Covid pandemic, to freeze the loan installments of 1.3 million companies for 198 billion and 1.4 million citizens for 95 billion: in total, over 293 billion.
However, Fabi recalls, due to a series of restrictions approved by the European Banking Authority (EBA), in force since last January, new, stringent rules on the management of non-performing loans will have to be applied next June: the consequential interruption of moratoriums, which can no longer be extended, will mean that at least a significant portion of the parties with the installments currently suspended, in the absence of liquidity necessary to repay the arrears, can be classified by the banks in a default position.
According to the banking union, with data from the Liquidity Task Force updated to 10 March, the matter concerns 2.7 million debt positions (i.e. loans) of companies and families that are customers of banks that have submitted a request for suspension of installment payments by exploiting the possibility granted by the Cura Italia decree law launched last year, at the beginning of the economic-health emergency caused by the Coronavirus.
A measure, Fabi underlines, “which has proved to be useful and indispensable to ensure additional liquidity for both companies (1.3 million) and citizens (1.4 million). The pandemic has not, however, slowed or postponed entry into force of new regulations) for the supervision of banks prepared by the EBA “.
More specifically, these are the guidelines on the management of NPLs that require banks to have a more rigid ranking of impaired loans: a strict regulation that has also affected, among other things, “suspended” loans with moratoriums and which, according to new European rules, should be classified as non-performing exposures.
“The European rules on non-performing loans came into force last January, but the government, amidst the regulatory folds – concludes Fabi – managed to extend the suspension of loans until next June, with a rule included in the budget law for the 2021: further postponements for the application of the EBA Guidelines, however, will no longer be possible. Nor are some informal clarifications recently published by the EBA sufficient to avoid the risk of financial failure of 2.7 million subjects “.