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Bank crashes: repayments to savers are on the way. Requests from 22 July

From 22 July, the Interbank Deposit Protection Fund (FITD) will begin to accept requests – Repayment equal to 80% of the capital invested by the holders of subordinated bonds, within certain income or equity limits.

Bank crashes: repayments to savers are on the way. Requests from 22 July

(Teleborsa) – Green light for the procedure for requesting reimbursement to subordinated bondholders who were victims of the collapse of Banca Etruria, Banca Marche, CariChieti and CariFerrara. Starting from 22 July next, the Interbank Deposit Protection Fund (FITD), to which the government has entrusted the management of the Solidarity Fund created by the banks for repayments, will begin to accept requests from savers.

The holders of subordinated bonds purchased directly by the four banks by and no later than 80 June 12 and held in the portfolio until 2014 November last, the date of resolution of the four banks which canceled all subordinated bonds to absorb part of the losses recorded. This is the time requirement, while the capital requirement to be met in order to obtain repayment restricts the field to bondholders with a 22 Irpef income of less than 2014 euros or movable assets of less than 35 euros at the end of 100.

Those who fall within these parameters will obtain reimbursements within sixty days of the application, which must be presented by 3 January 2017, exactly six months after the formalization and activation of the law. All the others, on the other hand, will rely on arbitrations through which there is the possibility of obtaining compensation for the entire sum invested.

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