Fir committee speeds up inspections, but no payment data

Listen to the audio version of the article

Consap announced in a brief press release that the Technical Committee had evaluated 102,168 requests as of October 4. The last communication explained that “as of June 14, 2021, out of 144,245 applications received, the Technical Committee evaluated 75,719 applications, or 52% of the total number of applications, of which 60% concerned the flat rate regime (125,085) for a total of 378.517 billion euros in compensation paid”.

In this regard, Plus24 reported on October 2 some difficulties regarding the refreshments, asking Consap for some clarifications, which Consap received very quickly (the latest press release also seems to be a response to this request). As for the questions, the first one concerns the calculation criteria. We asked if the agency is studying the possibility of communicating to beneficiaries the way in which the reimbursement amounts are calculated.

Consap responded that, by law, the calculation of the difference related to the subordinated bonds is carried out by FIDT according to 5 specific parameters calculated by an algorithm certified by the auditing company. “Therefore, anyone who wants to know more deeply about the results of the difference calculation must contact Fidt, because these are calculations that we have just obtained and we cannot intervene”, Plus24 also reported. For shareholders, the amount recovered also differs from the expected (ie not 30% of the average holding cost). “In some cases, for example, the reimbursement amount is exactly half of the amount that should be receivable”, reports lawyer Letizia Vescovini.

Which avenue should I use to report the problem and obtain the correct amount? Consap responded that it was not sure whether this was the erroneous repayment as it was thought, and that this could be a case of inheritance that occurred after the bank’s compulsory administrative liquidation, “and therefore after the elimination of the shares, so the calculation must be made taking into account the original purchase price, otherwise the value of the shares would be zero”. As for inheritances that occurred before the LCA (and therefore before 2015), “the heirs automatically acquire the right, so the shares are valued and vest in the heirs at the price at which the death event occurred, in accordance with the practice of the consolidated bank”.

Moreover, remember that the calculation is always done only on the basis of the bank certificate issued by the relevant credit institution and not on the basis of what the applicant has declared. In fact, attorney Vescovini commented: “The assumptions that I know of have nothing to do with the estate and that the recount is done on the basis of the bank documents uploaded by the request”. At the last meeting with the association, Consap argued that the simplified reimbursement. The request would end in the autumn. It is already the end of September and many “simplified” clients have not received their refunds. For this reason, we asked Consap when the review of the simplified procedure will end and when the review of the so-called second track related to large-scale irregularities will also be reimbursed.