Clifford Chance

Good news for Italian securitisations now that the 'Destinazione Italia' Decree has been converted into law

27 February 2014

Italian Law Decree no. 145/2013 has been converted into law and implements substantial changes to the Italian legislative framework governing securitisations and factoring, respectively law no. 130 of 1999 and law no. 52 of 1991.

On 19 February 2014 the Italian Senate approved and converted into law the so-called 'Destinazione Italia' Decree and on 21 February 2014 the conversion law was published in the Official Gazette of the Italian Republic. Article 12 of the Decree updates the legislative securitisation framework with the intent of incentivising investment by banks and allowing Italian small and medium enterprises (SMEs) to access the funding necessary to expand their business.

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