Regulatory Alerts1995-04-22
CICR Deliberation of 22 April 1995 on Mortgage Credit Limits
The Interministerial Committee for Credit and Savings issued a regulation on 22 April 1995 to implement Article 38 of Legislative Decree 385/1993 regarding mortgage credit operations. The decree establishes a maximum financing limit of 80% of the value of mortgaged assets or construction costs, which may be increased to 100% with additional guarantees, and mandates the inclusion of residual principal from prior mortgages when calculating new loan amounts. These provisions apply to public works and agricultural credit secured by real estate mortgages, with the Bank of Italy tasked to issue implementing instructions.
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