MILAN – The government launches reform of cooperative banks, initiating the transformation in Spa for those more dimesioni: will be ten institutions involved in the process that the markets are waiting for. The Council of Ministers, which was held in the afternoon in Rome, has introduced the measure in tandem with measures to support investment, part known as the Investment Compact. This includes the simplification of the closure of the accounts current, the patent box but not tax agreements for large investors.
The reform of popular. From the reorganization of the banking sector are excluded Banks Credit cooperative, as he anticipated the premier, Matteo Renzi, responding to a specific request came via Twitter by MEP Forza Italy, Gabriella Giammanco.
In detail, as explained Renzi in the press conference after the CDM, “act on popular with active above 8 billion, it’s 10 banks.” Crossing the data contained in the latest report of Mediobanca on major Italian companies with corporate communications, institutions should be involved (in order from largest to smallest): Banco Popolare, Ubi, BPER, BPM, Popolare di Vicenza, Veneto Banca Popolare di Sondrio, Creval Popolare Etruria and Popolare di Bari. Overall, Assopopolari explains on its website, the system of Popular has 70 institutions (60 are then out of the reform) with 1.34 million members and a total assets of 450 billion.
The premier has claimed that the intervention comes after “20 years of debate,” reiterating that the “Bcc” are out of this intervention and even the popular smaller . The measure, which is the first article of the decree in question today, offers the ten institutions involved “18 months” to overcome the one-vote and “turn into spa”. Until now, in the assembly for popular there was the principle of “one person, one vote”, for which each member has the same weight regardless of the equity interest held.
Pressed by reporters, the Minister of ‘economy, Pier Carlo Padoan, justified the decision to place the limit to 8 billion in assets as right threshold to “shake up” the credit system, “while preserving a system of governance that has given so much” to Italy. However, has opened in the future to new suggestions and adjustments to the governance models of small banks, even to respond to the new scenario of the European market.
The political controversy. Before dell’ufficializzazione measures, the game was moved to the political field. Yesterday the leader of the Northern League, Matteo Salvini, had opened the ball of adverse reactions announcing the climb “on the barricades” in defense of the status quo . “The decree that calls into question the historical role and the meaning of the banks in our country represents a formidable attack on the principle of subsidiarity”, said today in a note to the president of the Popular Italy, Mario Mauro. “I appeal to all the ministers who have made the culture of subsidiarity as a paradigm of its political action and a way to seek consensus, so that today in CDM – added Mauro – you get the extract of those passages that expose banks to ‘ aggression dell’affarismo more deleterious. “
On the line dell’altolà there is also the deputy M5S Danilo Toninelli, who tweeted:” Stop reform banks renzi. Ns b. Popular will be eaten by giant financial . Families and businesses will have even fewer loans. ” Forza Italy, Raffaele Lease bank, received a prior request to the President of the Senate, and (regent) at the Quirinale, Piero Grasso: do not sign any decree, because “beyond the opinions of everyone on the merits of this complex issue, you can not see where are the elements of extraordinary and urgent to justify a law on banks (one-vote, roofs, etc.). ” Online Maurizio Gasparri, for which there are requirements and “the government must stop”, and Renato Brunetta: “We need a bill.”
A support for reform has come instead from deputy Pd, Matteo Colaninno: “It ‘s very good for the economy and above all will bring more credit to businesses”, while the European Association of Cooperative Banks is opposed to “the model of one size fits all” for the banks and in defense of the “strength cooperative banks. ”
Contrary also Ncd. “The people’s banks and those of Cooperative Credit are always a landmark in the area and support essential for small and medium businesses, artisans, merchants, professionals and families. It is precisely for this reason that, at face value, we are not available to vote on measures to protect big business at the expense of small economic realities “, the note is the leader in the House of Popular Area (Ncd-UDC) Nunzia De Girolamo.
The anticipation of the markets. Even Piazza Affari, the seat of the Italian Stock Exchange, has been all day waiting to see what’s new regulations, continuing to show his appreciation for the idea of putting his hand to the system of one vote (at the meeting ‘a head worth one vote’, regardless of the stake), in a transformation to the Spa. A step that would also open the aggregation of larger banks. Yesterday from BPM to Banco Popolare, through Ubi and Bper, purchases were rained copious and today were repeated.
The rules of investment compact. As for the other measures, Padoan said the CDM has given the go ahead to the decree which includes portability of bank accounts and patent box , among other measures. The first innovations consist, according to the holder of Finance, in a “benefit to consumers. The cost of closing the account is paid by the bank and the transfer of funds should take place in a maximum of 12 days.”
As for the tax ruling, ie the possibility for large investors to establish agreements with the tax authorities that give certainty of payments to the Treasury to do, the Minister of Development, Federica Guidi, explained that “the rule has not been introduced, we felt it better to focus on a limited set of items, other ideas will be used for other measures. We wanted to give an advance of the bill that will compete tomorrow in the CDM. ” “It ‘a slender dl awaiting new Head State,” added Graziano Delrio.
Again Guidi explained that the decree will enter the investment banks and the restyling of the Central Guarantee Fund (which was to be extended Also securitization to be able to transfer the securities to the ECB as part of the plan of purchases of Abs mezzanine) expected in the first; then the assurance that the matter “will be addressed in a future decision.”
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