Ancanap asks a modification for circular 263/2006 of the Bank of Italy



In occasion of the assembly of Assonave (National Association of the Navalmeccanica Industry), than has held 7th june, the president and the director of Ancanap (National Association Private Ship yards), Stefano Silvestroni and Giancarlo Casani, has raised the problem of the various classified treatment the circular of the Bank of Italy number 263 on December 27, 2006 and next modifications and integrations to the mortgages as instrument of guarantee for the financings on the immovable assets regarding the mortgages on the ships, recorded movable property.

The representatives of Ancanap have remembered that the immovable assets are those indicated in article 812 of the Civil code "the ground, sources and the course of water, the trees, the buildings and the other constructions, even if joined to the ground to transitory scope, and generally all this that naturally or artificially is incorporated to the ground. The floating flour mills, bathrooms and the other buildings are deemed immovable, when solid they are assured to the river or the river bed and are destined to being it permanently for their use". The ships, identified from article 136 of the Navigation code ("for ship agree any destined construction to the transport for water, also for the sake of towing, of peach, diporto, or to other scope"), re-enter in the movable property enrolled in publics record, as expected from article 815 of the Civil code on which mortgage can be enrolled.

To the financings assisted from mortgages on the immovable assets, if sussistono determined conditions - Silvestroni and Casani have still remembered - a weighting of 35% of art. 1 and 2 is applied according to, Title 2, CAP. 1 of Section IV of circular 263/2006 of the Bank of Italy. That is to say, the amount of the deep ones to allocate from the banks to cover of eventual losses, parity of conditions (rating, etc.), is reduced of 35% of the amount of the financing with immediate positive incidence on the economic account of the bank.

In these times of great crisis and difficulty in order to respect the fixed parameters from Basel - they have found Silvestroni and 3 Casani - this disposition is very favorable and useful for the financial system. However the patrimonial weighting, disposition of advantage, are not applied to the ships because on the base of circular 263/2006 it is a procedure applicable only to the financings guaranteed from mortgages on immovable assets. This regulation - they have emphasized - penalizes heavy and unjustly the naval field determining more onerous conditions in terms of spread and, in sure cases, also the impossibility of access to the credit.

Ancanap asks therefore a modification for circular 263/2006 of the Bank of Italy including in 2 section IV art. 1 and also the naval mortgage as requirement in order to approach the patrimonial weighting.

It is necessary to remember that the naval mortgage, for its universal value, recognized in all the Countries, and applying itself to a movable - they have evidenced Silvestroni and Casani - conceptually represent a advanced guarantee also to that enrolled on immovable assets as it protects and protection of the financings granted from the banks.