Fondo Interbancario di Tutela dei Depositi
Lua error in package.lua at line 80: module 'strict' not found. Fondo Interbancario di Tutela dei Depositi (FITD) is an Italian deposit guarantee fund found 1987. The fund became a mandatory scheme by EU Deposit Guarantee Schemes Directive (94/19/EEC). However, the cooperative banks (BCC) of Italy had their own fund instead (Fondo di Garanzia dei Depositanti del Credito Cooperativo). There was another fund to guarantee asset management firm in Italy: Fondo Nazionale di Garanzia.
Due to the change in the directive (2014/49/EU), which was part of Single Rulebook, the regulatory foundations for Banking Union, the fund had changed from ex-post to an ex-ante system. The fund would eventually joined Single Deposit Guarantee Scheme of the EU. However, in a near future, the fund would only re-insuranced by European Deposit Insurance Scheme.[1]
From 1987 to 2015, 43 member banks were under special administration by the state (with Banca d'Italia as actual administrator). The fund carried 11 interventions, which 2 out of 11 banks returned to normal operation (Cassa di Risparmio di Prato and Banca Tercas). 4 additional bank were bail-out by newly established Italian National Resolution Fund of Single Resolution Mechanism in 2015. (Banca delle Marche, Banca Popolare dell'Etruria e del Lazio, Cassa di Risparmio della Provincia di Chieti and Cassa di Risparmio di Ferrara) Istituto per il Credito Sportivo, GBM Banca and Banca Popolare delle Province Calabre were still under special administration.
In December 2015, European Commission ruled that the capital injection to Banca Tercas in 2014, would be classified as state aid.[2] The commission requested the beneficiary returned the aid to the fund. Lack of approval from the commission were the reasons of not involvements in the bail-out of the 4 banks in 2015.
Interventions
- Cassa di Risparmio di Prato
- Banco di Tricesimo
- Banca di Girgenti
- Banca di Credito di Trieste
- Credito Commerciale Tirreno
- Sicilcassa
- Banca Valle d'Itria e Magna Grecia
- Banco Emiliano Romagnolo
- Banca MB
- Banca Network Investimenti
- Banca Tercas
Chairmans
- Paolo Savona (2010–2014)
- Salvatore Maccarone (2014–)
Members
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References
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| Multi-regional (total assets €30b to €8b) |
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| Multi-regional and regional cooperative bank (Popolari banks) |
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| Co-operative banks (BCC) and central banks |
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- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ SA.39451 Aid to Banca Tercas
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
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