VOLUNTARY INTERVENTION SCHEME

Interventions SVI

The Scheme carried out interventions in favour of participating banks in 2016-2018.

Following the reform approved by the General Meeting of participating member banks on 24 July 2024, rules on interventions and relevant types are set out in Articles 2, 5 and 6 of the SVI’s Statute. Specifically, in the renewed set-up the Scheme may also intervene in support of its participating banks, upon their request, when they are in difficulty with regard to their capital adequacy, profitability and liquidity or when their financial stability or the sustainability of their business model is at risk. The intervention is only possible where concrete possibilities for recovery exist, based on feasible and credible restructuring plans arranged by the participating bank requesting the intervention that permit to minimise the costs for the Voluntary Scheme, among all other possible alternatives.

Pursuant to Article 6, the SVI may intervene through various forms, under the condition that the intervention does not entail the assuming, directly or indirectly, of control of the bank for which the intervention is made.

For purchases of share capital in participating banks, a third party shall intervene to assume control with the support of the Scheme.