The European Parliament seems to have finally realized that there are families and small and medium-sized enterprises and that, perhaps, we should start from these realities in order to relaunch the economy. Better late than never, one could dismissively comment. Instead, the definitive approval, which took place in recent days, of the banking package which modifies and integrates some important rules contained in previous directives. A further step forward towards the banking union which, this time, is not against Italian banks and, above all, it is not against the real economy.
The provision provides, in fact, that the reduction of capital requirements by 24 per cent, already envisaged for loans up to 1,5 million euros, will also apply to loans, again to SMEs, up to 2,5 million. For loans exceeding 2,5 million, the reduction that can be applied will be 15 percent. In the same package there is also a mandate to the European Banking Agency for the realization of a specific one feasibility project to support social activities. Surprising, for once, positively for how Italy is often considered, is the measure aimed at favouring access to credit, reducing its costs for families.
An institute that has been present in Italy for as long as seventy years is introduced into the Consolidated European Text, the "assignment of the fifth", with the simultaneous reduction of capital absorption from 75 to 35 per cent of risk-weighted assets. The change concerning the treatment of non-performing loans is also important. The disposals of the Npl which will concern an amount equal to 20% of total non-performing exposures between 2016 and 2023, will see the negative effects on the balance sheet of banks that make use of internal models neutralised. This will prevent the sale of non-performing loans on the secondary market from negatively affecting the prudential valuation of loans In bonis. Finally, the provision introduces incentives for technological innovation of the banks.
It has long been evident that it was the Small and Medium Enterprises, modeled on a territorial model, that withstood the impact of the economic crisis, showing themselves to be more resilient and are, today, ready to regain positions, even becoming themselves a driving force for the entire economy. These are industrious entrepreneurial realities that have never broken their ties with the territory. In Italy, SMEs with fewer than 250 employees realize 70 percent of the added value nationwide with 80 per cent of total company employees. They are companies with local relevance that maintain high levels of efficiency and exports all over the world thanks also to virtuous mechanisms of relations with other companies and with local banks. Companies and banks linked by instrumental relationships and by the need to pursue a common economic goal, for which support for families and, indirectly, for savings, together with the social function and subsidiarity, do not represent a negligible luxury but constituent elements.
Today, Europe too takes note of it. We can only express our favor and join the President of ABI, Patuelli, in stating that we are facing an important step forward. Now it is essential that we do not go back and that we continue along this path always having it clear that the priority objective in any economic choice must be to look at the effects of each measure on families and SMEs, the true engines of the economy real. Just as we have to thank the Italian MEPs who worked hard to approve the measure.
°°° The author is the Secretary General of the National Association of Popular Banks
