Solutions to the halt on credit assignment?

Possible solutions

Among the most credited solutions, though not yet approved, are:

• the securitisation of credits
• offsetting through F24 forms
• retaining credits for post-earthquake reconstruction and for those with insufficient tax capacity

Securitisation of credits

This consists of assigning the credits to special-purpose companies, which will acquire them in a manner still to be determined and, in return for payment, will issue bonds. These securities are generally then placed with the public. This option seems to have been shelved, at least for the moment, after the meeting of 20 February 2023 between the government and trade organisations.

Offsetting through F24 forms

In this case the credits could be used, through the banks, to pay their customers' F24 forms. In practice this system is very costly for the State, which will receive no liquidity in return for the payment. However, this option appears to remain on the table even after the meeting of 20 February: it is therefore one of the viable routes.

Post-earthquake reconstruction and insufficient tax capacity

Among the options floated is also that of retaining the credits for post-earthquake reconstruction and for those with insufficient tax capacity.

In short, the situation is still a work in progress (perhaps it could have been thought through earlier, as sector associations point out). Businesses and private citizens are awaiting the final provisions and tools to ease the consequences of the decree, which, according to the Bank of Italy too, is necessary to safeguard the public finances.