The Italian Banking Association (ABI) has urged banks to immediately suspend mortgages in the regions hit by Cyclone Harry in recent days.
A suspension that can only be effective when the Government's "provisions and institutional ordinances" "are published in the Official Journal" .
The Italian Banking Association released a statement following the Council of Ministers' declaration of a state of emergency in Sardinia, Calabria, and Sicily.
"The Civil Protection Agency, through specific ordinances, will provide all the information needed for the full implementation of the mortgage suspension," the statement reads. "Precisely to ensure timely interventions for populations affected by natural disasters everywhere, the ABI has signed a specific Memorandum of Understanding with the Civil Protection Agency and consumer associations."
(Unioneonline)
