Jul/090
Bank of Italy – Public Debt record
Here yet another new record. It reached a new record that Italian public debt in May reaches 1.7522 trillion Euros. Is what emerges from public funding to supplement the Statistical Bulletin of the Bank of Italy. Since the beginning of the debt has grown by 89.6 billion Euros, 5.4%.
Bank of Italy also indicates that fall of 3.2% income tax in the first five months of the year so that, between January and May, the Treasury receipts fell by 4.5 billion Euros. According to the tables in the first five months of the year, measured net of Special Funds for the collection (i.e. the revenue already booked but no breakdown between taxes and contributions) to fund the tax revenues totaled 134.8 billion, up from 139.3 billion the same period last year.
Jul/090
Interchange Fee, illegal agreements?
The interchange fees are those costs that the bank of the buyer (customer) pays the issuing bank of POS (the merchant) for performing the transaction.
This cost represents between 70% and 90% of the costs to be incurred for the exchange of money between the parties, supported by a trader.
Now the authority is investigating possible antitrust agreements between banks and MasterCard banks MPS, BNL, Banca Sella, Barclays Bank, Deutsche Bank, Intesa Sanpaolo, ICBPI (Italian Central Institute of Popular Banks) and Unicredit.
One possible arrangement could include a higher interchange fee so that the issuing banks more and are encouraged to provide more MasterCard credit cards to collect more money.
A vicious circle that could be the basis of vertical and horizontal agreements. The first attempt to match the costs and not allow the competitive market, while the latter are designed on the appointment of the Italian Commission on the circuit Mastercard.
We will see what decision will be taken.
Jul/090
Soon new funding agreements on anti-wear
In Rome you opened a discussion table to make more profitable fund prevention wear expected in 1996.
Among the participants in this initiative: ABI, business associations and category Confidi, National wear, Foundations and Associations wear.
The key points of negotiation will be:
- Build on shared guidelines for these rules and promote any proposals for legislative changes;
- Intervene on situations of fragility in the territories;
- Monitoring the case studies, highlighting the most problematic events;
- Seeking shared solutions and apply them, including through the cooperation of the Prefecture;
- Promote “ribancarizzazione” protested the subjects under the framework agreement (offer of Basic banking services);
- Compare the information received by the banks or Confidi, consultation and Foundations and Associations wear, putting a common factor for a smooth and problem management devoid of conflict, including the possible elaboration of a model agreement between banks and fund managers subject of prevention;
- Activate the information campaigns on how the funds with the cooperation of all stakeholders concerned;
- Promote appropriate initiatives to raise awareness throughout the country the opportunity to use of funds;
- At least six months to share with quantitative and qualitative information on the progress funds;
- Promote a day nationally and annual basis aimed at awareness on the issue of enforcement and prevention of wear, under the patronage of the highest
State authorities and the ABI.
Along with legislative and executive bodies working to combat a phenomenon that the crisis usually tends to increase and so as to allow those inside to come out this problem and who still has not fallen into this trap not for external obligations.
Source ABI Press