Gestione e valutazione dei Non Performing Loans

[Autom. eng. transl.] The subprime mortgage crisis that occurred in the years 2007-2009 and the subsequent one that characterized the sovereign debts of European countries in the years 2010-2011 caused a profound contraction of the real economy, generating the deterioration of the solvency conditions of companies and households and, at the same time, the accumulation of significant volumes of non-performing loans (NPLs) in the banking system. The increasingly stringent constraints imposed by banking supervision impose increasing levels of provisioning on banks, in the face of shrinking profit margins, also as a result - among other things - of a prolonged expansionary monetary policy. In this context, the Italian banking system is called upon to rethink its business models, in order to counter the continuous erosion of overall company margins. In this perspective, the credit area can offer its contribution by reformulating its organizational and internal control processes and enhancing the portfolio of NPLs, since an adequate analysis of impaired positions and the definition of a strategy differentiated by cluster can represent a business opportunity for the bank. An optimal mix of alternative strategies for managing impaired loans, ranging from internal workout units, to the use of outsourced servicers, to the sale of NPLs on the secondary market up to the implementation of securitization transactions with state guarantees (GACS), can represent a management lever aimed at maximizing the recovery rate for the bank and, ultimately, at reducing the cost of credit. The volume provides theoretical-methodological support to the issue of valuation of non-performing loans in banks, according to different perspectives (regulatory, accounting and market), providing useful insights to govern the complex management choices of the non-performing loan portfolio in banks.