Regulatory Alerts1996-10-16
Deliberations of the CICS and Urgent Ministerial Decree - Deliberation of 16 October 1996
The Interministerial Committee for Credit and Savings issued a favorable opinion on the draft ministerial decree modifying the conditions for Mediocredito Centrale's subsidized intervention in export credits. The decree excludes operations shorter than 24 months and those involving consumer goods or semi-finished products not exclusively integrated into investment goods from eligibility. It also eliminates interest margins exceeding 2% over funding costs, aligns Italian law with international Consensus agreements by restricting currency financing, and authorizes hedging against interest rate and exchange rate risks.
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