Foundations must not be able to invest more than 30% of their assets in the capital of banks. This was proposed by ACRI to the Ministry of the Economy in view of the reform of foundations which will see the light in the next few weeks. This was explained by the president of Acri and Cariplo, Giuseppe Guzzetti, on the sidelines of the conference Banks, Foundations and Companies underway in Turin.
“The element that we proposed in the dialogue with the supervisory authority – explained Guzzetti – is that an acceptable parameter of a single investment, not only in the bank, cannot exceed one third, 30% of the assets”.
Therefore each foundation will have to invest no more than one third of its assets in the bank. The rule, Guzzetti clarified, will apply to small and large companies and a transitional period will have to be foreseen since today many foundations have over 50% of their assets invested in banks.
