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As of January 1, the deadline for banks to comply with the EBA Regulation on capital requirements begins. The checking account holder who goes into the red runs the risk of being informed if his exposure is a “non-performing loan.”
by Lucilla Incorvati
As of January 1, the deadline for banks to comply with the EBA Regulation on capital requirements begins. The account holder who goes into the red runs the risk of being informed if his exposure is a “delinquent loan.”
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But is it really true that an excess of 100 euros will be enough to be reported in default and become a bad payer even if it has never happened before? The overshoot must exceed the “relevance threshold”, that is, simultaneously exceed both an absolute threshold (100 or 500 euros, if it is private in the first case, if it is a company in the second) and relative (1% of the exposure total); Furthermore, the overshoot must last more than 90 consecutive days (in some cases, such as for public administrations, 180 days).
Tighter rules since January
The Bank of Italy responded to this, and intervened with a clarification on the issue regarding the entry into force of the Eba Regulation (January 1, 2021) regarding the rules on capital requirements that could change as of January 1 ( in those institutions where the changes have not yet been ratified) relationships between customers and banks. The new rules are the result of a European negotiation compromise and for Italy they introduce different criteria than those currently used for some stricter aspects. The customer runs the risk of being blacklisted due to a new default classification.
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As of next January 1, intermediaries must classify the customer in default who does not comply with his credit obligations claimed by the banking or financial group towards him for three months if the amount of the default is greater than 100 euros. and 1% of the total credit obligations claimed by the bank. Basically, starting in January, automatic debits to checking accounts may no longer be allowed if they are not covered by sufficient liquidity. For many Italians, especially struggling with the economic consequences suffered as a result of the Covid-19 epidemic, the risk of a suspension of payments for public services, salaries, social security contributions and loan installments could be foreseen.
When unauthorized entry is allowed
These new rules do not prohibit cost overruns from being allowed: as now, banks, in compliance with their policies, can allow customers to cancel the amount available in the account or, in the case of a line of credit, beyond the limit of credit. The possibility of exceeding is not a right of the client, but an option granted by the bank, which can also apply commissions (the so-called CIV, rapid investigation commission). As of January 1, as already today, banks will be able to continue allowing customers to use the account, even for the payment of public services or salaries, which cause an excess.
However, this is a discretionary choice of the bank, which can allow or reject the overrun. Therefore, it is important to know the contract stipulated with your bank and to dialogue with it, therefore it is important that intermediaries provide information and assistance to their clients, so that they are aware of the implications of the new discipline, to help them understand the change. that is occurring and adopt behaviors consistent with the new discipline. In recent days, the Bank of Italy asked banks and financial intermediaries to act in this regard and clarify to customers.
