Among the CCBs, the case of the Temporary Guarantee Fund, established at the end of May 2016 with the aim "until the date of adhesion of the cooperative credit bank to a banking group to promote, also through support interventions, consolidation and concentration processes among the member banks, in order to rationalize the structure of Cooperative Credit and to improve its efficiency”. What happened? On 23 November last, about fifteen banks reminded the mayors of the Fund that the representatives of the institution are required to operate with criteria of transparency.
The translation is that the bailouts prepared by the Fund (to which the CCBs are obliged to adhere) are paid for by everyone and for this reason some institutes, while sharing the principles underlying the body, ask to understand with what criteria the subjects to be "helped" are selected and the measures to be adopted. Otherwise, the banks signing the letter "reserve the right to take any appropriate action, even in court, to protect their rights".
Shortly after this summons, a case broke out linked precisely to the Fund set up to give the CBs in difficulty the possibility of finding financial and industrial aid, pending the creation of new banking groups: the Court of Trapani, accepting the proposal of the DDA to Palermo, ordered the judicial administration of the Bcc of Paceco (the first case in Italy), subjected to inspections by Bank of Italy in 2010 and 2013. The institution has not only always ignored or only formally respected the recommendations of Via Nazionale, not complying with obligations of the anti-money laundering legislation and indications on credit lines, but according to the bank's investigations it also suffered from the interference and constant presence of the Coppola family, linked to the Mafia.
Now the cooperative credit banks are wondering how that was possible no one realized, before the go-ahead for the operation with the Bcc di Paceco, of the situation of the Sicilian bank. And in this regard, the denial of the Fund has arrived: "The Guarantee Fund for depositors of the CCBs - reads a note - it has never carried out financing transactions in favor of the Bcc di Paceco, placed in judicial administration since 3 November last year".
