This situation of economic crisis can create difficulties for us and citizens, but not only. Even the banks could be in extreme difficulty, just think of the latest derivative scandal that hit Astro bank at the beginning of 2013 or the financial problems of the last few weeks involving Bankate. This is how the idea of ​​bankruptcy can be assumed.

According to some data issued by the Banktally, on 7 November 2013 the extraordinary administration proxies amounted to 13, of which nine started during the current year. Moreover, twelve of the delegated powers referred to credit institutions, while one was from a financial company. This situation is established only after the issuance of a decree by the Ministry of the Economy, following the proposal reported by the Banktally. We are not talking about collapse yet, but the intention is to really do everything to prevent this from happening. In the worst case scenario, however, the bankruptcy declaration could proceed. Let us not forget that this would be a limitation situation and, if it were actually put into practice, what would change us ordinary citizens? What would happen to our mortgages? And what would our current accounts do?

But let’s proceed with order.

First of all, the first thing to do is not to panic: although a bank’s failure is not an optimal condition neither for the bank nor for its clients, there is still a body that protects account holders and that is represented by the Interbank Deposit Protection Fund, which protects each customer based on the amount of money in their current account, up to a maximum of $ 103,291.00. To guarantee this protection, in fact, there is the DL of December 4, 1996 No. 659.

Let’s start with a further assumption: it is unlikely that a bank declares bankruptcy and closes its doors from evening to morning: it is much more likely that, if a credit institution is going through a phase of financial hardship, it will be absorbed by a larger bank and with higher financial resources to cover all debts. Alternatively, we would see an acquisition by the same State, which will take care of initiating a final or temporary nationalization process. But in both cases, the buyer would be charged with fulfilling all the obligations towards the customers of the bank.

In the event that you are current account holders, you will only be notified of any change of name while everything else remains the same. The guarantees to those who own a current account, in fact, allow to protect the capitals of his property, which in the case of bankruptcy of the bank, will be returned up to a maximum of $ 103,291.00, thanks to the Interbank Protection Fund. Deposits. If the account is jointly registered, then the guaranteed sum is $ 103,291.00 for each co-holder. If, however, the amount deposited is greater than the amount shown here, it is possible to incur a loss of the excess money without any possibility of redemption. The reimbursement of capital will be made within a period of 20 working days from the time the compulsory liquidation of the assets by the bankruptcy bank occurs. This rule, obviously, applies to national credit institutions: if you were clients of a foreign bank, it is advisable to inquire about any guarantees offered in the event of bankruptcy.

Bank loan

Bank loan

In the event that you have opened a loan, you can sleep peacefully: in the event of bankruptcy of the bank that granted you the loan, you will not risk losing the capital you have been granted provided that, in the contract that you have signed, there is no present a clause providing for the customer to return the money to the ailing bank. Whoever hopes for failure to stop paying the loan, however, does not have to fantasize too much: the monthly installments will have to be continually paid until the end of the loan, even if the money would no longer be owned by the institution with which you entered into the contract, but of the one that has absorbed it. Thanks to this system, the bank would be able to increase the liquidity necessary to close the institution’s debts towards its employees and creditors, thus succeeding in getting out of the situation of impasse in the shortest possible time.

If, on the other hand, you own shares or other forms of investment, you must pay the utmost attention to market trends: if the securities you hold are strictly related to the credit institution that issued them, it is likely that the trend goes negative and, therefore, their value tends to fall, making you lose money. But this is an eventuality to which all those who play on the stock exchange have to deal every day. If you are the owner of bots or other government bonds, you can remain calm: your credit institution only covers the role of manager of the same and, therefore, there is no type of risk for your investment that will remain linked to the performance of the market interest rates. It is possible, however, that the securities held by the bank in bankruptcy can be sold to another credit institution: in this case you have to estimate a small cost for each share that can turn into a minimum loss of value for each individual bond.

Credit intermediary company

Credit intermediary company

In the event that a credit intermediary company and not a bank were to go bankrupt, the situation will be very similar to the one described above: the loan agreements that have been granted to customers and have not yet been fully repaid, will be transferred to the financial company that acquired it, which will be able to decide whether to collect them in whole or in part. Who had to finish paying all the installments of his loan will receive in a very short time all the information necessary to proceed with the monthly repayments on the new company; in the event that the latter had also decided to absorb the trademark, the holder of the loan may proceed with payments without any kind of change.

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