With the Circular 26 June 2020 n. UCR / 1241, the ABI (Italian Banking Association) “acknowledges the decision of the EBA to extend from June 30 to September 30 the facilities in the treatment of the moratorium operations granted in the context of legislative initiatives or by agreement following the Covid-19 pandemic. In particular, these facilities concern the possibility of avoiding the automatic reclassification of the debtor in relation to the difficult situation produced by the health emergency”.
In the circular, one is also reported table with the improvement conditions with respect to the general rules provided by the respective agreements that banks can consider for carrying out suspension operations.
For example, with reference to the Moratorium on SMEs and Large Enterprises – Addendum to the Credit Agreement 2019, the improvement condition could be pursued through the suspension of the entire installment, instead of just the capital quota.
The PMI moratorium can be extended
The press release with which the extension was announced also highlights the parties signatories to the agreement. In detail, these are Acu, Adiconsum, Adoc, Altroconsumo, Asso-Consum, Assoutenti, Cittadinanzattiva, Codacons, Confconsumatori, Consumer and User Protection Center, Federconsumatori, Consumer House, Consumer League, Consumer Movement, Citizen Defense Movement, Udicon , The National Consumer Union, the corporate moratorium was defined with the Alliance of Italian Cooperatives (AGCI, Confcooperative, Legacoop) CIA-Agricoltori Italiani, CLAAI, Coldiretti, Confagricoltura, Confapi, Confedilizia, Confetra, Confimi Industria, Confindustria and Rete Imprese Italia ( Casartigiani, Cna, Confartigianato, Confcommercio, Confesercenti) and to which many other business representatives and the moratorium on local bodies have joined, which has been defined with ANCI and UPI.
The circular was also an opportunity to confirm, with reference to the SME Moratorium, the possibility of extending the duration of the suspension period up to 24 months and the subjective perimeter to large companies, as indicated in the Large Companies Moratorium Addendum of 22 May.
The possibility of applying the SME Moratorium also to companies with impaired exposures at the date of submission of the application is confirmed, provided that it is performing on January 31, 2020 (it being understood that non-performing exposures are excluded).