Banking and Companies, Guarantees and Credit to Companies, Agreement on new guarantees on loans, Use of the new guarantee figures introduced by Decree Law 59/2016
With the signing of Alleanza delle Cooperative, Casartigiani, CLAAI, Confagricoltura, Confapi, Confartigianato, Confcommercio, Confedilizia, Confesercenti and Confimi Industria, the organization of the organizations adhering to the agreement promoted by ABI and Confidustria, defined under the patronage of the Ministry of Economics and Finance, to make the guarantee system more flexible, accelerate credit recovery times and ensure better credit service to businesses.
The initiative gives strength to the commitment to promote the use of the new guarantee figures introduced by Legislative Decree 59/2016: the suspensively conditioned transfer of an immovable property (so-called Patto Marciano) and the non-possessory securities pledge.
In particular, for the Marciano Pact, the Agreement contains some forecasts aimed at favoring its use for the benefit of banks and businesses and to strengthen the full operation of art. 48-bis of the TUB, which introduced into our legal system the possibility that the loan agreement between the bank and the company can be guaranteed by the transfer in favor of the creditor, in the event of default by the debtor, of ownership of a property (not main residence) place as a guarantee of the same.
The Agreement provides inter alia that the possible introduction of the pact in the new loan agreements combines benefits for companies related to the possibility of: extending the duration of the loans, in relation to the type of property under warranty, up to a maximum of 30 years; increase the amount of bank credit in relation to the value of the property; reduce the cost of financing.
There are also commitments to: promote the establishment of the informatic register of pawnbrokers and the optimization of supervisory regulations regarding the two new forms of guarantee; the development and dissemination of guidelines for the evaluation of residential properties and the definition of similar guidelines for industrial buildings; the definition of further initiatives to make the guarantee enforcement mechanism more efficient.
In the coming days, the underwriting associations will set up specific working groups to follow up on the commitments undertaken and examine the various technical aspects concerning the use of the two new guarantee figures.
The initiative gives strength to the commitment to promote the use of the new guarantee figures introduced by Legislative Decree 59/2016: the suspensively conditioned transfer of an immovable property (so-called Patto Marciano) and the non-possessory securities pledge.
In particular, for the Marciano Pact, the Agreement contains some forecasts aimed at favoring its use for the benefit of banks and businesses and to strengthen the full operation of art. 48-bis of the TUB, which introduced into our legal system the possibility that the loan agreement between the bank and the company can be guaranteed by the transfer in favor of the creditor, in the event of default by the debtor, of ownership of a property (not main residence) place as a guarantee of the same.
The Agreement provides inter alia that the possible introduction of the pact in the new loan agreements combines benefits for companies related to the possibility of: extending the duration of the loans, in relation to the type of property under warranty, up to a maximum of 30 years; increase the amount of bank credit in relation to the value of the property; reduce the cost of financing.
There are also commitments to: promote the establishment of the informatic register of pawnbrokers and the optimization of supervisory regulations regarding the two new forms of guarantee; the development and dissemination of guidelines for the evaluation of residential properties and the definition of similar guidelines for industrial buildings; the definition of further initiatives to make the guarantee enforcement mechanism more efficient.
In the coming days, the underwriting associations will set up specific working groups to follow up on the commitments undertaken and examine the various technical aspects concerning the use of the two new guarantee figures.
May 11, 2018
Follow-up and update of the news published on this website on February 16, 2018
Source ABI Italian Banking Association
