Voluntary intervention scheme

The Voluntary Intervention Scheme SVI) is an association established inside the FITD. FITD member banks participate voluntarily in the Scheme and on a contractual basis.
The Voluntary Scheme was established in November 2015 and is an autonomous and alternative instrument to FITD, which is the mandatory deposit guarantee system.

Mission
It was set up to reinforce the safeguards for protecting the stability of the banking sector and enhancing its potential to intervene in situations of difficulty, even before the onset of a crisis. In addition to FITD mandate, the Italian banking system thus enriches the toolbox at its disposal with a type of early intervention that can help avoid greater costs.
The possibility of regulating voluntary interventions by statutory means is provided for by Art. 96-quater.4 of the Banking Law, as amended by Legislative Decree no. 30 of 15 February 2016 transposing Directive 2014/49/EU on Deposit Guarantee Schemes (DGSD).

Governance
The SVI has its own governance structure, distinct from FITD one. Resources are acquired autonomously in addition to the mandatory contributions paid by member banks to FITD. The Scheme uses the structures of FITD for its activities.

Interventions from 2016 to present
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.