Clifford Chance

Coronavirus – Impact on loans in Italy and the securitization and covered bond markets

20 March 2020

Through the so called "Decreto Cura Italia" (the "Covid Decree") the Italian Government has recently enacted a set of measures to address the impact of the Coronavirus outbreak on the Italian economy. These measures became effective on publication of the Covid Decree in the Italian Official Gazette on 17 March 2020 and need to be enshrined into law by the Parliament within 60 days. The measures included in the Covid Decree aim at providing temporary aid to families, companies and enterpreneurs dealing with the isolation and disruption caused by the spreading of the pandemic. Core measures to mitigate the consequences of the turmoil include payment holidays under loan agreements.

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