ABI in government, extend credit default for 12 months

(ANSA) - ROME, AUGUST 05 - The ABI asks the government to extend the moratorium on claims for SMEs for at least 12 months following the Covid emergency. The General Manager, Giovanni Sabatini, today sent a letter to Minister Gualtieri, also on behalf of President Antonio Patuelli, noting that the measure is needed "to facilitate the recovery of economic activities in a context that still shows difficulties in restarting an unsustained expansion cycle". Sabatini also cites the need to "take advantage of the provisions of the guidelines of the European Banking Authority of April 2020, which exclude the classification in the" exposures subject to tolerance measures "category of positions that benefit from a moratorium on the request or the extension of the same occurs before of 30 September 2020 and in consideration of the fact that from the first of January the new rules for defining the default will change, which modify the criteria for the classification as "impaired credit" of loans, which will significantly increase the possibility of reclassification of exposures to "impaired loans" specific to businesses economically sound that nevertheless have temporary financial difficulties in meeting the loan repayment deadlines. ": (ANSA).