Simple guide to the new European rules on default

The Associations participating in the CIRI Table (Interassociative Sharing Table on International Regulatory Initiatives) have developed a guide, available online, on the new European rules on definition of default that banks will have to apply by January 1, 2021.

The new European rules on the classification of debtors in “default” (ie, in a state of default on an obligation to the bank) establish more stringent criteria and methods than those adopted so far by Italian financial intermediaries.