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Diapositiva 1

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Title: Diapositiva 1 Author: Ceretto Last modified by: ceretto Created Date: 2/18/2005 8:44:04 AM Document presentation format: Presentazione su schermo – PowerPoint PPT presentation

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Title: Diapositiva 1


1
Guarantee systems in European Union countries
searching for the best model
Warsaw, 09 February 2011 Speaker Ceretto
Massimo
2
Agenda
Guarantee institutions in Italy
Some figures
Our position in the market
Guarantee products
WTs
3
Guarantee institutions
Institutions Features
Credit Guarantee Corporation 107 Supervised by Bank of Italy With total Asset above 75 million Number of entities 41
Credit Guarantee Corporation 106 Not Supervised Total Asset below 75 million Number of entities 753
4
Country distribution
Numbers of CGCs by District
Source SME report, Unicredit Bank,2006
5
Guarantee Basel 2
Basel II compliant guarantees under ex art. 106
and ex art.107
Standardized approach IRB foundation approach IRB advanced approach
Tranched cover (both 106 107) Its relevant only when the coverage guarantee is high Depends on the quality of the guaranteed portfolio Depends on the quality of the guaranteed portfolio
Ex art.106 Rating A- 11 counter-guarantee of public funds Rating A- (or equivalent PD) 11 counter-guarantee of public funds Low PD, 11 counter-guarantee of public funds
Ex art.107 Always valid for RWA 20 Confidi rated by the bank 11 counter- guarantee of public fund Confidi rated by the bank 11 counter- guarantee of public fund
6
Framework of guarantee
7
Shareholder base
FINPIEMONTE PARTECIPAZIONI SPA 18,22
Piedmont Region Finance Company
Main Banks
23,74
SMEs
Member enterprises
51,20
8
Eurofidi at a glance
  • BBB, Outlook
    stable
  • BBB, Outlook
    negative
  • Personnel approx 400
  • Banking agreements 140

9
Organization
Supervisory Board
Board of Directors
Executive Committee
Chief Executive Officer
Auditor
Chief Risk Officer
28 Branches
10
Eurofidi rules
Coverage ratio
Ceiling
Guarantee fee
  • 50 80 depending on the credit rating of the
    borrower and available counter guarantee.
  • up to 6,8 upfront fee depending on the credit
    rating of the enterprise and available counter
    guarantee
  • Normal ceiling for a single enterprise Euro
    4,4 million
  • Special ceiling for group enterprises up to
    25 of Total Capital

11
Management of Defaulted Loan
  • Eurofidi notified of the
  • enterprises default
  • mainly from creditor
  • institution.
  • Upon receiving the
  • notification, Eurofidi
  • initiates default
  • handling procedure.

Notification of Default
Default handling
Preservation of Property
12
Claims for Payment
Claims for Payment
  • When the enterprise
  • defaults, the creditor
  • institution makes claim
  • for payment to Eurofidi.
  • After evaluating the claim,
  • when there are no causes
  • for exemption, Eurofidi
  • makes payment under
  • guarantee.

Evaluation
Payment under Guarantee
13
Recovery from Payment
  • Eurofidi is subrogated to
  • creditors claim and
  • gains the right recover to
  • its payment.
  • Only when there is no
  • way to recover payment,
  • Eurofidi stops collection.

Collection
  • Lawsuit
  • Auction
  • Exercise of
  • security right

Recovery of Payment
14
Guarantee Market
Outstanding guarantee in Italy as of December 2009 21,545 Billion
Eurofidi outstanding guarantee as of December 2009 5,247 Billion
Eurofidi 24,35
Source Bank of Italy, Regional
Economies-Economic developments in the Italian
regions
15
The Marketplace
16
Products
Short term loans
Revolving loans
Mid long term loans
Leasing
Tranched Cover
Special loans such as (Flood, Usury)
Working capital
Rescheduling agreements
Restructuring
17
WT
Threats
Transfer the guarantee RWA benefit to the SMEs
and not only to the banks.
18
Contact
Eurofidi S.c.p.a. Via Perugia, 56 10152 Torino
Italy Massimo Ceretto, Chief Risk
Officer m.ceretto_at_eurogroup.it Office 39 011
24 191
19
This presentation is made purely for
information. We have tried to give relevant
information which we believe will help in knowing
our experience. The viewers may use their own
judgment and are advised to make their own
calculations before deciding on any matter based
on the information given herein. While every care
is taken to verify the accuracy of the
information given in this presentation, neither
the Eurofidi nor its officials would in any way
be liable for any action taken or not taken by
the viewers or the users of this presentation or
for any claims, losses etc.
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