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This article was published on Dec. 12, 2015 at 11:40.
The last change is the December 12, 2015 at 13:52.
A Solidarity Fund and the appointment of arbitrators entrusted Palazzo Chigi. The government filed the amendment to the law of stability to enable the protection of investors affected by the collapse of the People’s Bank of Etruria, Banca Marche, carife and Carichieti. The Solidarity Fund will have a dowry of 100 million fueled by the Interbank Deposit Protection Fund (FITD), operating within the limits of its availability. With a subsequent decree will be made as to how access to the fund and the quantification of the benefits determined in amounts corresponding to the loss suffered.
will be referees of proven impartiality, independence, professionalism and integrity appointed by Prime Minister’s office to handle each case the individual positions of subordinate bonds that have seen their savings go up in smoke. It remains subject to the right to compensation. The fund is subrogated to the right of the investor to compensation in the limits of the amount of benefit paid. The performance of the fund will be reserved for natural persons, individual entrepreneurs, agricultural and farmers.
The House Budget Committee resumed work this morning to the examination of the Stability Law, which aims to approve by Sunday or, at most, on Monday morning, to allow landing in court by Tuesday, Dec. 15.
Banks, arrives solidarity fund to 100 million
Will be a “solidarity fund” financed with 100 million coming from the Interbank Fund for the protection of the deposits ” donut ”, provides for the amendment of the Executive, to safeguard savers involved in the collapse of four banks.
Appointment “referees” by decree Palazzo Chigi
The “referees” to the case by case evaluation of the refunds will be “chosen from among persons of proven impartiality, independence, professionalism and integrity “by decree of the President of the Council, on a proposal from the Ministry of Economy and in the Council of Ministers. It will not be short Consob to play the role of “judge” in individual arbitrations for refreshment of shareholders and bondholders of the four banks which you applied the Government Decree. It would be inconsistent, say sources of Palazzo Chigi, that a “player” of the story can stand as a “judge” to settle the dispute. The possibility that the role of arbitrator can be eventually assigned to Consob has still consumed a long debate yesterday at Palazzo Chigi.
MEF Decree will establish criteria repayments
“The procedures and deadlines for submitting applications’ repayment of depositors,” quantification standards, as well as the procedures to be followed which may be all or part of an adjudicatory nature ‘will be fixed by a decree of the MEF. It still provides the government amendment.
It will ensure accountability bonds placed
In the amendment on banks also says that “the establishment of liability for violation of disclosure requirements, diligence, fairness and transparency in the placement of subordinated notes, “is expected to be activated in case the arbitration procedure for the repayment of the underwriters of subordinated bonds.
bridge financing of 2.5 billion to fund a resolution
Not only. The government has also decided a bridge loan of 2.5 billion for the resolution fund only provided for by the decree ” salvabanche ”. Also provided a standard that facilitates institutions that contribute, thereby surpassing the penalty due to the expected decline of IRES.
For additional IRES banks 3.5%, 100% deductibility
Since 2017 he arrives then an additional IRES for banks by 3.5 percentage points to compensate the lenders who would be penalized by cutting IRES 27.5 to 24% introduced by the law of stability from 2017. it provides a government amendment to the bill stability filed in the House Budget Committee. The rule also applies to the Bank of Italy while they remain excluded insurance companies. Compesare for banks comes the 100% deductibility of interest expenses currently deductible at 96%. Due to the reduction of IRES 2017 banks would be penalized for what would have reduced the value of Defferred tax assets (DTA), deferred tax assets.
No spot on games from 7 to 22
The government amendment on games was approved by the Budget Committee. It prohibits the advertising of games with cash prizes in broadcast TV and radio generalist between 7 and 22 is introduced among other things an increase of 2.5 points, to 17.5%, the state tax on slot machines and a reducing the share of the proceeds used for prizes.
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