Collapse of banks, Padoan pointed the finger at the ECB, but forget the role of Consob – The Daily

In the game of the disclaimer on the case of Italian banks overwhelmed by sales on the stock exchange, the Minister of Economy Pier Carlo Padoan , forget the role of Consob and attacks the Central Bank European . On the collapse of Italian banks has weighed a “communication management unwise to supervisory ECB”, he has said adding that because of that mistake that caused losses of up to 50% on certain titles “there has been a redistribution wealth “.

What Padoan does not say is that at the beginning of Frankfurt published a detailed document which emphasized, among other things, that” the high levels of impaired loans require more attention from the supervisory authority “and announced that” the situation of credit institutions with high levels of non-performing loans is approved by a task force , which will formulate proposals on the way to be taken in this regard “( READ HERE THE FULL DOCUMENT ).

So the rumor of Saturday, January 16 on a new round inspection of the ECB should not have been news to the insiders such as the Consob instead, known as Mario Seminerio Phastidio.net , January 18 asked Italian banks to account Listed requests Frankfurt. “The question arises – asks the economist – because Consob has deemed it necessary to require publicly listed banks that information? He had no cognizance of the steps announced by the ECB on January 6? He wanted to show themselves “on track” towards public opinion, and political institutions? Here are the questions that would be answered. Instead of reading comments pointing the finger at the ECB. “

And again:” Perhaps it is the responsibility of the ECB to prevent the spread of boatos market of communications made by it to the banks under its supervision? We have nothing to impute to singular intervention of Consob, seen by many market participants as a kind of intervention to defuse a kind of low blow to the banking system Eurotower Italian, when in fact it was sheer routines , and that ended up creating an unnecessary stigma additional in-chief to the banks confirmed that they had received the request ECB? “.

Meanwhile, it remains in the background the fact that the institutions of the Peninsula are burdened by a cumbersome burden of non-performing loans and the agreement with Brussels on the bad bank , if it ever comes, is looming as decidedly downward. According to an analysis of the Study Centre of Unimpresa, then, 70% of bank loans not repaid by households and businesses refers to loans exceeding 500,000 euro . Of the total non-performing loans amounted to 201.1 billion euro, 141.4 billion relate to financing over half a million euro granted to just 32,608 people, 2.63% of the customers ‘problem’ institutions; 25.5 billion of bad loans against only 579 people, 0.05% of the total. And over 97% of customers (more than 1 million people), who have loans from EUR 250 to EUR 500 000, weighs only 29% of the loans (52 billion).

“Now emerge the mistakes of institutions – says the president of Unimpresa, Paul Longobardi – who for years have lent money with criteria obviously unpacked . Even if the last period dropped slightly the pace of growing mountain of loans not repaid, the problem remains and it is very serious because it apparently is a question that weighs solely on the balance sheets of the banking sector: to pay the bill at the end of carousel, are the business they see automatically rejected applications for funding, “he continues.

Pagano also sector workers. The union of Fabi , in fact, estimated at 23 thousand units the redundancies bank provided by 2018 in addition to the 48 thousand that occurred since 2000. The figure is net of the effects of the next mergers and “that surely will lead to others.” The accounts of the union of bank employees take into account the plan Unicredit with outputs 5740, 5100 already provided for in the old plan, in addition to other 540 defined in the update of the business plan 2015-18. To the 560 already defined could be added additional 400 deriving from the possible sale of the lease. The calculation takes into account the professional reconversion of 4,500 Intesa SanPaolo that will become redundant if retraining workers will not go into the harbor; 8,000 Total expenditure until 2018 Mp s (plan from 2012 to 2018); 1,300 BNL ; 600 Bper ; 575 outputs defined and likely another 150 potential redundancies result of any sale of banking services Popolare Vicenza ; 900 out of Banco Popolare ; 500 out of Ubi ; 430 Veneto bank ; 250 Creval and 600 Carige .

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