

Scheme for senior tranches of securitisation ABS backed by non-performing loans ("NPLs") (Garanzia 37 dated 15įebruary 2016 and in force since 19 February 2016 introduced an Italian government guarantee 18/2016 ("Decree 18/16") published in Official Gazette No. Patrizio Messina and Gianrico Giannesi, Orrick Partner, Deputy Head of the Italian Banking & Finance team Partner, Managing Director Europe, Head of the Italian Banking & Non-Performing loans and the supply of Bank Credit: evidence from Italy (Paper ofīank of Italy), dated March 2017. 45ĮCB Guidance to banks on non-performing loans, dated March 2017.
Liquidation procedures and restructuring instruments. The recourse to different procedures and their features. The management of NPLs: a survey among the main Italian banks. (Bank of Italy and European Central Bank publications). 25Ĭhapter II - Guarantee on the securitisation of Non-Performing Loans (GACS). (Courtesy translation of the Italian laws). Purchase and management of NPLs under NPL Law. The legislative measures introduced in Greece. Tax provisions relating to the acquisition and management of assets. 17Īcquisition or subscription of financial instruments by the SPV. Provisions of new article 7.1 of Law 130. 14Īmendments to Italian Securitisation Law 130/99 as of 24 June 2017. Eligibility of the senior notes for the ECB refinancing transactions. Enforcement of the guarantee and payment by the MEF. The State guarantee enforced by the senior noteholders. Legal aspects regarding the State guarantee. Criteria for determining the value of the assigned receivables. The Italian GACS: from Law Decree 18/2016 to Ministerial Decree 3 August 2016. Authored by: Patrizio Messina, Gianrico Giannesi, Annalisa Dentoni-Litta,
