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    Bank of Italy on Published Update Related to AnaCredit Reporting

    January 18, 2021

    Bank of Italy published a communication on the reporting treatment, in the Central Credit Register and AnaCredit, of the “sales of tax credits” recognized by certain provisions related to COVID-19 pandemic. On January 05, 2021, Bank of Italy, CONSOB, and IVASS published a document addressing the "accounting treatment of tax credits connected with the Cura Italia and Relaunch Law Decrees purchased following sale by direct beneficiaries or previous buyers." Transactions with the characteristics indicated in the aforementioned document must not be reported in the Central Credit Register of Bank of Italy. Furthermore, the sales of tax credits in question are not subject to reporting in AnaCredit, as the aforementioned transactions do not have the characteristics indicated by AnaCredit Regulation. However, it should be noted that loans and/or advances granted by intermediaries in support of transactions benefiting from tax measures are reported in the Central Credit Register and AnaCredit according to the general principles applicable to the two surveys.

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    Keywords: Europe, Italy, Banking, AnaCredit, COVID-19, Tax Credit, Central Credit Register, Reporting, Bank of Italy

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