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Guaranteed loans, Fabi alarm: “with no support, liquidity emergency for over one million families and businesses”

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They amount to 311 billion in public aid for bank loans guaranteed to face the pandemic. This is what emerges from the “Map of State aid on bank loans” created by Fabi, Autonomous Federation of Italian Banking, which in an analysis today explains how two years after the start of the health emergency, the balance of guaranteed loans shows “mind-boggling figures”. Hence the alarm: “Some support measures introduced by the government are no longer in force and others will expire in a few months with the result that beyond 1.2 million individuals, including citizens and companies, could find themselves in enormous difficulty: the scenario is that of a national liquidity emergency that could lead to financial distress and bankruptcies. For this reason, it is urgent to extend all public aid for businesses and families, both by reactivating the moratoriums on old loans and by extending the guarantees on new loans beyond the current deadline of next 30 June “.

Of the 311 billion euros allocated, approximately 60 billion of moratoriums are still active, compared to 500,000 suspensions granted, three million requests for loans presented, more than 220 billion of loans guaranteed by Mediocredito Centrale and 31 billion those granted through Sace.

In the European panorama, Italy – together with Spain – not only stands out for the percentage of recourse to loans backed by public guarantees (about 5% of the outstanding in the banking system), but also boasts the primacy of the highest degree of coverage. high with an average 85% compared to Spain and Germany (80%) and France (55%).

According to Fabi, ithe real stress test it is indeed still expected in 2022, when Italian companies will have to deal with the end of the moratoriums, restrictions on loans; reduction of guarantees from the Central Guarantee Fund on liquidity loans to 60% for transactions exceeding 30,000 and from 90% to 80% on those with amounts up to 30,000) andintroduction of a hidden tax in the form of commissions which will certainly not serve to encourage the economic-financial quality of the business system and which will not help to govern the phase, which has just begun, of gradual elimination.

“The state and the banking sector, also thanks to the efforts and daily work of the workers of the same banks, played an essential role, during the pandemic, to support the Italian economy: banking agencies have always remained open and the staff constantly supported all customers. Some support measures introduced by the government are no longer in force and others will expire in a few months: therefore it is urgent to extend all public aid for businesses and families, both by reactivating the moratoriums on old loans and by extending the guarantees on new loans beyond the current deadline of next 30 June. Therefore, I fully agree with the appeal made to the Italian government by the president of ABI, Antonio Patuelli. Over a million businesses and households could find themselves in great difficulty. The pandemic will last a long time and the economy will suffer damage for a long time, ”comments the general secretary of Fabi, Lando Maria Sileoni.

Geography of secured loans

Analyzing the overall geography of the concessions, however, Fabi’s analysis shows once again a two-speed picture because more than 50% of the overall operations were presented in the regions with the largest number of companies and workers in the national territory and which, probably , have also been hit to a greater extent by the crisis.

The mapping of the 250 billion in aid shows that the largest share went to the Northern regions (Piedmont, Lombardy, Veneto, Emilia-Romagna), followed by those of the Center such as Lazio, Tuscany, Abruzzo, Umbria and Marche.

The fabric of Italian small and medium-sized enterprises, which is concentrated in Southern Italy, although it has instead received only 18.7% of total funding, is the one that boasts the record – after the first five in the North – for amounts up to 30,000 EUR. However, it is still penalized in the category of loans over 30 thousand, where the South collects only 17.6% of total aid resources, compared to 52.3% in the northern area of ​​Italy and 24.2% of the North Central District.

If the loans were destined for all economic activities on the Italian territory, the most representative size class was that of loans for amounts exceeding 30,000 euros which attracted almost 90% of the total resources used. There residual share of 10% on the other hand, it went in favor of operations for an amount of less than 30,000 euros.

With 2,578,052 applications presented, for a total amount of approximately 221 billion, the breakdown of aid in the form of guarantee loans is distributed as follows:

  • 1,179,579 loan requests up to € 30,000 for a total of € 22.9 billion (average amount of € 19,476);
  • 1.398.473 requests for loans exceeding 30,000 euros for a total of 197.5 billion (average amount of 141,258 euros).
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