La rivolta del correntista. Come difendersi dalle banche e non farsi fregare
In many European countries the banking crises of recent years were managed massive public interventions, certainly useful to avoid damage to the entire financial system and the real economy, but deleterious to taxpayers / citizens and for the public debt of these countries.
Directive BRRD (Bank Recovery and Resolution Directive) It introduced in all European countries harmonized rules to prevent and manage crisis of banks and investment firms. So from 2016 public intervention will be provided only under exceptional circumstances to prevent the crisis from one bank has serious repercussions on the financial system as a whole and, in any case, after the application of BAIL-IN (literally saving internal).
It is a tool that allows authorities to resolution to have recourse to the conditions for terminating the reduction in value of shares and other loans or their conversion into shares to absorb losses and recapitalize banks sufficiently to restore adequate capitalization and maintain market confidence.
The Bail-in, It applies following a hierarchy whose logic expected, those who invest in riskier financial instruments to support before the other any losses or conversion into shares.
The order of priority is as follows:
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Shareholders;
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The holders of other equity securities;
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The other subordinated creditors;
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1 creditor chirografari;
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Individuals and small business depositors for the amount exceeding 100 thousand Euros;
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The Fund Deposit Guarantee, contributing taxpayers instead protected.
In fact deposits up to 100 thousand euro, ie those protected by the Deposit Protection Fund, They are expressly excluded from the Bail-in.
Nour country and the full implementation of the Bail-in is expected only from 2016; However, the write-down or conversion of the shares and subordinated debt, including equities, It will be applicable as of this year, when this is necessary to avoid a disruption.
Ready to get on track?
Alex Gaetani