Credito Fondiario is a leading operator in the securitization sector with GACS (“Garanzia sulla Cartolarizzazione delle Sofferenze”).
The GACS, introduced by a Law Decree No. 18 dated February 15th, 2016 (then converted into Law No. 49/2016), and extended twice – lastly by the Law Decree No. 22 dated March 25th, 2019, is a tool available to Italian banks in order to enhance deleveraging process in the sector.
Credito Fondiario has completed four securitization transactions with GACS, in which it has played a role both as master and special servicer:
Securitization of a EUR 7.4 billion portfolio of non-performing loans of Banco BPM
Securitization of a EUR 963 million portfolio of non-performing loans of Banca Carige
EUR 1.7 billion credits by Credito Valtellinese
Securitization of EUR 25.4 billion of Monte dei Paschi di Siena
Credito Fondiario stands for banks as a one-stop shop for all activities and services related to GACS:
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