Wednesday, July 13, 2016

banking crash, depart refunds: up to 80% to savers – BBC

Exactly eight months after the resolution of Bank, Etruria and of Ferrara-boxes Chieti, decided by the government on 22 November last year, start the lump-sum basis for the bondholders who have seen clear their investments . From July 22, the Interbank Fund for Deposit Protection, responsible for managing the Solidarity Fund created by banks for redemptions, will begin accepting requests for savers. Will get a refund of 80% of capital invested, subtracted interest, holders of subordinated bonds purchased directly by the four banks and by 12 June 2014, provided they have a personal income tax income of less than 35,000 euro or movable assets of less than 100 EUR thousand. The repayment, which will take place within sixty days of the request, however, exclude the possibility of obtaining compensation of the full amount, possible through arbitration, pending latches of the decrees of the government. The period expired on June 30, according to the executive and the sources of the measures to be introduced is imminent.

Building opportunist

They could come as early as next week, together with the decree to start the Gacs, public guarantee on the sale of non-performing loans of banks. Two hundred billion, 80 net of hedges, which weigh a ton on banks and on the prospects of economic growth, accumulated mainly in the long years of crisis. Thanks to the peculiar behavior of opportunistic Italian companies, as reveals a study published yesterday by the Bank of Italy. The companies that have relationships with several banks, it turns out, you have a marked tendency to delay their payments to those, among all, the most burdened by the suffering. To a greater extent if the enterprises are large and in areas where the recovery of debts by judicial process is slower. The debtors, regardless of their health, take advantage of weak banks. So much so that the study suggests, in difficult times like these, a lot of prudence in the dissemination of news about the fragility of the banks, which might increase the chance of debtors.

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July 13, 2016 (amendment July 13, 2016 | 23:23)

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