Support for the liquidity of households and businesses

In order to avoid the lack of liquidity for businesses and families, numerous interventions have been envisaged, including through collaboration with the banking system. Here are the main ones.

• A moratorium on loans to micro, small and medium-sized enterprises (which concerns mortgages, leasing, credit openings and short-term loans falling due);
• strengthening of the central guarantee fund for small and medium-sized enterprises, also for the renegotiation of existing loans. The changes concern in detail:
  • the free guarantee of the fund, with the suspension of the obligation to pay the fees for access to the fund itself;
  • the eligibility for the guarantee of debt renegotiation operations, to allow to meet foreseeable, immediate liquidity needs of companies deemed reliable by the banking system;
  • the automatic extension of the guarantee in the event of a moratorium or suspension of the financing related to the coronavirus emergency;
  • the provision, for transactions of up to € 100,000, of assessment procedures for access to the fund restricted only to economic and financial profiles in order to admit to the guarantee also companies that register tensions with the financial system due to the crisis connected to the 'epidemic;
  • elimination of the non-completion fee for all non-completed transactions;
  • the possibility to combine the guarantee of the fund with other forms of guarantee acquired for transactions of significant amount and duration in the hotel and tourism sector;
  • the possibility of increasing the thickness of the junior tranche guaranteed by the Fund against portfolios destined for companies / sectors / chains most damaged by the epidemic;
  • the possibility of setting up special sections of the fund to support access to credit for certain economic sectors or business chains, on the initiative of the sector administrations also together with the associations and reference bodies
  • suspension of the fund's operating terms;
  • extension of the limit for the granting of the guarantee from 2.5 million to 5 million of financing;
  • extension to private individuals of the option to contribute to increasing the endowment of the SME fund (now recognized to banks, regions and other public bodies and bodies, with the intervention of Cassa Depositi e Prestiti and Sace);
  • facilitation for the provision of guarantees for loans to self-employed workers, freelancers and individual entrepreneurs;
  • extension of the use of the resources of the Fund;
• strengthening of the Confidi for micro-enterprises, through simplification measures;
• extension to self-employed workers and simplification of the use of the fund for first home loans;
• measures to increase the allowance for sports workers;
• the establishment at the Ministry of Foreign Affairs and International Cooperation of a fund for integrated promotion, aimed at supporting the internationalization of the country system;
• immediate entry into force of the volatility adjustment for insurance companies;
• possibility of paying shareholders and bondholders damaged by banks an advance equal to 40 per cent of the amount of the compensation due from the Savers Compensation Fund (FIR);
• introduction of a counter-guarantee mechanism for banks, by Cassa Depositi e Prestiti, with which to allow the expansion of credit also to medium-large companies affected by the crisis. The goal is to free up around 10 billion additional investments; 
• incentive to sell impaired loans (NPL) by converting deferred tax assets (DTA) into tax credits for financial and industrial companies;
• rules on the reimbursement of residence contracts and on the termination of contracts for the purchase of tickets for shows, museums and other places of culture, with the provision of the right to reimbursement for services not used in the form of vouchers of the same amount as the purchase title, to be used within one year of issue;
• the establishment of a show, cinema and audiovisual emergency fund and further urgent provisions to support the cultural sector;
• the increase in advances from the 2014-2020 Development and Cohesion Fund under the Operational Plans of Central Administrations and Development Pacts, with the possibility of requesting twenty percent of the resources assigned to individual interventions, if the latter are equipped of an approved or definitive executive project approved in case of joint assignment of the design and execution of the works.