Source: https://www.global-regulation.com/translation/italy/619991/authorisation-of-cassa-depositi-e-prestiti-s.p.a.-to-supply%252c-aconditions-market%252c-the-provision-required-for-effettuareoperazioni-of-funding-intend.html
Timestamp: 2018-07-21 11:40:37
Document Index: 410187767

Matched Legal Cases: ['art. 8', 'art. 1', 'art. 5', 'art. 5', 'art. 5', 'art. 3', 'art. 8', 'art. 1', 'Art. 1']

Machine Translation of "Authorisation Of Cassa Depositi E Prestiti S.p.a. To Supply, Aconditions Market, The Provision Required For Effettuareop..." (Italy)
Authorisation Of Cassa Depositi E Prestiti S.p.a. To Supply, Aconditions Market, The Provision Required For Effettuareoperazioni Of Funding Intended For Itmeans "environmentally Friendly ' Internationalisation Of Enterprises And Exports. (1...
Original Language Title: Autorizzazione alla Cassa depositi e prestiti S.p.a. a fornire, acondizioni di mercato, la provvista necessaria per effettuareoperazioni di finanziamento destinate al sostegnodell'internazionalizzazione delle imprese e delle esportazioni.(1...
Read the untranslated law here: http://www.gazzettaufficiale.it/atto/serie_generale/caricaArticoloDefault/originario?atto.dataPubblicazioneGazzetta=2015-02-12&atto.codiceRedazionale=15A00956&elenco30giorni=false&atto.tipoProvvedimento=DECRETO
The MINISTER of economy and finance Saw the art. 8 of Decree-Law 1 St July 2009, # 78, converted, with amendments, by law August 3, 2009, # 102, as last amended by art. 1, paragraph 44, of law No 147, December 27, 2013 (hereinafter Decree-Law No. 78/2009), which provides that "the Minister of economy and finance with its decrees authorizing and regulating the activities of Cassa depositi e prestiti s.p.a. to create market conditions, to an integrated system of «export Bank». For this purpose between the operations of public interest that may be triggered by the Cassa depositi e prestiti s.p.a. with the use of funds under art. 5, paragraph 7, point a), of the Decree-Law September 30, 2003, n. 269, converted, with amendments, by law November 24, 2003, n. 326, and subsequent amendments, also includes operations for supporting the internationalization of companies when operations are secured by guarantee or assurance of SACE s.p.a. or other insurance institution whose obligations are guaranteed by a State. With the same decrees are established methods and criteria in order to allow the operations of credit insurance for exports by the SACE s.p.a. in small and medium-sized domestic enterprises '; Visto l'art. September 30, 2003, 5 of the Decree-Law n. 269, converted, with amendments, by law November 24, 2003, n. 326 (hereinafter referred to as "Decree-Law No. 269/2003 "), which features the transformation of Cassa depositi e prestiti in deposits and loans fund joint stock company (hereinafter referred to as" CDP S.p.A.») and, in particular, paragraphs 7 and 8 that provide, among other things, the establishment of separate management (hereinafter referred to as "separate management") for funding, through the use of postal savings, of activities of public interest, as defined by the article. 5; Having regard to the order of the Minister of economy and Finance of December 5, 2003 for implementing the aforementioned Decree-Law No 269/2003; Having regard to the Decree of the President of the Council of Ministers approving the Statute of December 5, 2003 CDP S.p.A., subsequently amended pursuant to art. 5, paragraph 4, of Decree-Law No 269/2003; Having regard to the order of the Minister of economy and Finance of October 6, 2004 which defines, among other things, the criteria for conducting the activities of separate management and for exercising the power to address the same management; Visto l'art. 5, paragraph 21, of that Decree-Law No 269/2003 which provides that the ministerial decrees adopted pursuant to this article. 5, the provisions referred to in art. 3, paragraph 13, of law No. 20 January 14, 1994; Having regard to the order of the Minister of economy and Finance of January 22, 2010, published in the Official Gazette No. 82 of April 9, 2010, issued pursuant to art. 8 of Decree-Law No 78/2009; Having regard to the "Consensus" of the Organization for economic cooperation and Development-OECD on guidelines in the field of officially supported export credits; Deemed it necessary to implement the changes made by art. 1, paragraph 44, of law December 27, 2013, # 147; Deemed it necessary to clarify the scope of operation of the system «export Bank "in view of the amendment regulation mentioned above, which extends the scope of subjects that can ensure system operation «export Bank»; Considered that those sponsors of financing operations carried out by CDP S.p.A. in the context of «export» Bank must hold a higher degree of solvency is at least equivalent to that of a State; Noted that export credit agencies are agencies that have directly or indirectly by Government guarantee; Noting that national development banks and financial institutions consist of international agreements play an institutional support for investment activity and economic growth through the provision of guarantees and other forms of credit insurance, benefiting from the support of the participating States; Given the necessity, in the ongoing cyclical economic phase, to ensure, pursuant to and for the purposes of article. 8 of the Decree-Law n. 78/2009, as subsequently amended, support the activities of international business and export;
Decrees: Art. 1 1. Cassa depositi e prestiti is authorized to provide, under market conditions, the Italian banks and branches of foreign banks operating in Italy community and extra-Community funding necessary to carry out financial operations aimed at supporting internationalisation of enterprises and exports, as governed by the specific rules on which the premises, provided they are insured or guaranteed by export credit agencies , from national development banks or other financial institutions consist of international agreements within the meaning of the European Union framework and international. 2. The funding agreement signed by CDP S.p.A. and the Bank aimed at financing transactions referred to in paragraph 1, it indicates, among other conditions, the maximum level of the margin, which takes account of the risk profile of the operations, including any fees that the Bank, the funds made available through the use of features of CDP S.p.A., can add up to the total cost of supply provided by CDP S.p.A.. 3. Always at market conditions, CDP S.p.A. can directly finance operations exceeding CHF 25 million aimed at supporting internationalisation of enterprises and exports, though assisted by insurance or guarantee of export credit agencies, national development banks or other financial institutions consist of international agreements within the meaning of the European Union framework and internationally, as long as: a) are effected in cofinancing with other financers for a share of CDP S.p.A. not exceeding 50% of the amount of total funding; or b) intervention in the banking system is not compatible with the particular characteristics of the financing operation storm, or dimensional. 4. this Decree replaces the Decree of the Minister of economy and Finance of January 22, 2010, at whose premises. This Decree will be submitted to the relevant supervisory authorities and published in the official journal of the Italian Republic.
Rome, December 23, 2014 the Minister: Padoan Recorded the Court of Auditors the Audit Office January 19, 2015 acts Ministry of economy and finance, Reg.ne Prev. # 127