Pass the Tria line. “We are ready to give an answer to the savers who are victims of the banking crises for whom, I remind you, we have provided for a 1,5 billion euro fund in the Budget Law“. The premier writes it on Facebook Giuseppe Conte at the end of the meeting with the associations representing defrauded bank customers.
The proposal put on the table by the Premier would have received the ok from 17 of the 19 associations present and during the Council of Ministers scheduled for tomorrow, April 9 - together with the Def - should the implementing decree will also arrive which will finally unblock the issue.
The winner would have been the line of the Treasury minister, agreed with Brussels, which provides for a "double track".
BANKS REFUNDS: HERE ARE THE RULES OF TRIA
Tria's hypothesis sets aside the "automatisms" requested (or perhaps it would be better to say demanded) by the two deputy prime ministers. The mechanism for providing reimbursements to customers defrauded by banks will bring arbitration back into vogue. It will work like this: those who have presented an Isee equal to or less than 35 thousand euros and are owners of real estate assets of less than 100 thousand euros, they will be able to count on priority repayments. According to the calculations made by Tria together with the EU Commissioner Margrethe Vestager, it would be 90% of the savers involved in the collapse of the Veneto banks. From a technical point of view, in this case, the Italian government will refer to the concept of "social emergency" by avoiding configuring the compensation as state aid.
For the remaining 10% of savers it will be set up a verification commission who will have the task of checking whether they are really people defrauded by banks or speculators aware of the risks associated with the purchase of shares and subordinated bonds.
The compensation will be equal to 30% for shareholders and 95% for subordinated bondholders.
REFUNDS FROM OTHER BANKS
Monday April 8, the Anac has released the data relating to the repayments of the customers of the four failed banks in 2015: Banca Etruria, CariFerrara, Banca Marche and CariChieti. Out of 1.768 requests presented, corresponding to 81 million euros in reimbursements, the entity led by Raffaele Cantone - which has the task of managing the arbitrations - accepted 1.455, for a total of 32 million euros. The hearings will continue until the end of May.
Going into details for Banca Etruria 867 requests were presented, Anac accepted 741, for a figure exceeding 25 million. 314 applications accepted for Cariferrara 86 million euros), while for Marche Bank the green light came on 289 applications. The Interbank Fund will disburse a total of over 25 million euros.
“Every arbitration – he explains Raffaele Cantone – is similar to a trial: there is a discussion between the parties, via documents, and the drafting of an award, comparable to a sentence. In this way it is possible to examine case by case and evaluate the effective right to compensation of those who have purchased the bonds, provided only for those who were unaware of the riskiness of the securities. For example, in circumstances where it needed further elements to decide, the Board audited savers, sometimes even establishing very substantial repayments. We're almost there now: we will finish by the end of May, in practice just over a year to examine over 1700 requests ".
