Tag Archives: GACs

NPL in the EU are declining (but Watch out for GACS)

According to the latest press release, efforts to reduce risks in the EU banking sector are bearing fruit, as in its fourth progress report on the reduction of non-performing loans (NPLs), the Commission confirms that NPL levels are continuing their … Continue reading

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GACs is back (and lots of securitizations will follow)

As reported by Reuters, Italy and the European Commission have agreed on the renewal of a state guarantee scheme aimed at facilitating the sales of bad bank loans. The so-called ‘GACS’ scheme expired on March 6, but the Italian government … Continue reading

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Italian banks and NPL Update 2019-02

Italy’s economy tipped into recession at the end of last year, according to latest figures. In the final three months of 2018, the economy shrank by 0.2%, following a 0.1% decline in the third quarter, according to the latest update published by ISTAT. … Continue reading

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Good News for Italian Banks

Italian Banks are facing some troubles due falling prices of Italian bonds that will likely cause substantial impairments on their balance sheets. Some relief may come from the   prolongation of the Italian guarantee scheme to facilitate the securitisation of non-performing … Continue reading

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Largest NPL securitization closed by BMPS

Monte dei Paschi di Siena Group (“BMPS”) has completed the securitization transaction for the sale of a bad loan portfolio of c. EUR 24.1 billion and obtained investment grade ratings on the senior tranche. (press release). The senior tranche, worth R 2,918 million … Continue reading

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2bn NPL Securitization for BPER

BPER is said to arrange a 2Bn NPL securitization. This deal will be in addition to the 1Bn already planned for Banco di Sardegna division and will probably use GACs guarrantee on the investment grade tranche. According to Milano Finanza the … Continue reading

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