MPS and State shareholdings in Fintecna, Sace and Simest: the Budget and Finance commissions of the Senate have concluded the examination of the decree on the efficiency, enhancement and disposal of public assets, the rationalization of the economic-financial administration, as well as strengthening the assets of companies in the banking sector. The provision, which expires on August 26, has already been scheduled for the courtroom starting next Thursday.
The decree gives Cassa Depositi e Prestiti the option right for the purchase of the shares held by the State in Fintecna, Sace and Simest, to be exercised within 120 days of the entry into force of the decree-law. It also contains rules on the valorisation and disposal of public buildings, through the savings management company (Sgr), wholly owned by the Ministry of the Economy and Finance. The reorganization of some entities of the economic-financial administration is also foreseen, in particular with the incorporation of the Autonomous Administration of State Monopolies (in the Customs Agency (which assumes the name of Customs and Monopolies Agency) and of the Territorial Agency in the Revenue Agency A further article reduces the personnel of the Ministry of Economy and Finance and of the Tax Agencies and transfers some functions from Consip to Sogei.
Then there is the banking chapter: the strengthening of their assets, starting with the subscription, by 31 December 2012, by the Ministry of the Economy and Finance, of new financial instruments issued by Banca Monte dei Paschi di Siena computable in the regulatory capital up to the amount of €3,9 billion, of which €1,9 billion earmarked for the full replacement of the “Tremonti bonds”.
