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On the table of the Minister of Economy Giovanni Tria also arrives the banks of records, and immediately produces a double movement on the Gacs. The decree granting the public guarantee to the senior tranche of the NPL of Monte dei Paschi has been signed and is now at the Court of Auditors for the registration (fast) of the rite. Yesterday was also notified to the Competition DG of the European Commission also the request for the second extension of the useful window, which expires on September 6, to grant the umbrella to the sale of impaired loans, which can be activated until To 6 September. Demand, eagerly awaited by the banking world after the beginning of technical contacts started between Rome and Brussels in recent weeks (Il Sole 24 Ore of May 11), on paper does not pose any problems of transposition, because the second half is expected by the same original calendar of the Gacs. Even if history slips into a complicated confrontation on banking rules that rise in temperature
Svetta BancoBpm, close deadline for offers on sale Npl
In Siena, the state guarantee is a crucial junction of the maximum security of 24.1 billion set up last May by Rocca Salimbeni to clean up its accounts. The Gacs obviously concern the senior tranche, starting at 2.92 billion, which will pay a coupon equal to the 3 month Euribor plus a premium of 150 basis points in a mechanism also called to reimburse expenses. Treasury insurance. After the Monte, it is the turn of Iccrea, which has collected a package of Npl for one billion 20 cooperative credit banks and two group institutes and which aims to get the green light from the Ministry of Finance. Economy in the coming weeks.
The waiting list is, however, much longer, and the expectations on the Gac files are around 30 billion (Il Sole 24 Ore 13 June) on which a lot of big Italian credits are at stake. Work: Banco BPM has just built a 5.1 billion gross securitization, and on the track there are also UniCredit, Intesa, Ubi, Carige and the popular Emilia-Romagna to name only the names the heavier. For many, the possibilities of completing the operations under construction depend precisely on the additional six months that the MEF will formally request the Competition DG (19659005) Moody's, progress on the Npl in Europe but some still high levels in Greece, Cyprus and Italy
The "reduction" of risks before their greatest "sharing" is one of the elements that fuel the most the debate on the banking union, with many veto threats agitated by the US. Italy before the European Council that last week he actually postponed the topic in December. And the numbers indicate that for their part the Italian banks have responded, working this year on sales of more than 60 billion euros after the 46 billion dollars built last year. From this point of view, Brussels' "yes" to a second extension of six months, then until March 2019, would help a lot. All the more so as the same European rules on state guarantees include the additional six months following the first "additional" year, while the possibility of extending guarantees to unlikely payments remains to be seen. explore
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