The results to 31 January 2010 of the application of the Joint Notice concerning the suspension of SMB debts have been disclosed today. The Notice was signed by the Minister for the Economy and Finance, the Italian Banking Association and representatives of all the relevant sectors of the economy.
Requests to suspend received to 31 January 2010 numbered approximately 136 thousand (16% up on the number received to 31 December, 2009). Following a sharp increase in the early months, the number of businesses interested would appear to be stabilizing somewhat.
Taking into account the procedural timescale (around 30 days), up to January around 100 thousand requests had already been granted for the suspension of approximately 8 billion euro of mortgages and leasing.
The Joint Notice has also recently included certain situations concerning transactions particularly relevant to the agricultural sector as well as being extended to cover loans assisted by public funding, subject to an express decision on the part of the relevant lender.
The documentation provided to the Treasury Department by lenders is attached, together with the list of public funding referred to (available in Italian only).