The results to 28 February 2010 of the application of the Joint Notice concerning the suspension of Small and Medium Sized Business debts have been released today. The Notice was signed by the Minister for the Economy and Finance, the Italian Banking Association and representatives of businesses in all the relevant sectors of the economy.
Requests to suspend received to 28 February 2010 numbered approximately 153 thousand (13% up on the number received to 31 January 2010). Applications are still on the increase, despite the Notice having been operative for several months. It should be remembered that the deadline for submission of applications for a suspension is 30 June 2010.
Taking into account the procedural timetable (around 30 days), by February almost 114 thousand applications had already been granted for the suspension of approximately 9 billion euro of mortgages and leasing.
Further, the Joint Notice has recently included certain situations concerning transactions particularly relevant to the agricultural sector, as well as being extended to encompass mortgages assisted by public funding, subject to an express decision on the part of the relevant lender.
The documentation provided in March to the Treasury Department by lenders is attached, together with the list of public funding referred to (available in Italian only). A previous list accompanied the press release of 2 March 2010. Overall, a considerable number of Chambers of Commerce has decided to sign up to the Joint Notice, together with the following Regions: Emilia Romagna, Lombardy, Marche, Piedmont, Tuscany and Umbria.