Tag Archives: GACs

Is servicing still the main Challenge of NPE Market?

Posted on August 7, 2019 by Massimo Famularo

Unlikely To Pay (UTP) exposures seem to be the hotspot of italian NPE market with upcoming deals worth more than 20Bn of Gross Book Value Intesa Sanpaolo has recently reached a binding agreement with Prelios to form a strategic partnership … Continue reading →

Posted in Entering Italian NPL Market, Italian Banks, NPL e Distressed Assets | Tagged , , , , | 2 Comments

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

Posted on June 14, 2019 by Massimo Famularo

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 →

Posted in Entering Italian NPL Market, NPL e Distressed Assets | Tagged , , , , | 2 Comments

GACs is back (and lots of securitizations will follow)

Posted on March 22, 2019 by Massimo Famularo

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

Posted on February 6, 2019 by Massimo Famularo

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

Posted on September 4, 2018 by Massimo Famularo

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

Posted on May 11, 2018 by Massimo Famularo

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

Posted on March 1, 2018 by Massimo Famularo

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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