Even among small banks, fears about the impact of the maneuver, 'threshold is low'

There is also growing concern among several small banks about the fiscal impact of the maneuver after the open clash between the executive on the one hand and the ABI and the larger banks on the other. The government has established that the three-point IRES increase, the main rule for obtaining resources from the sector, does not apply to those institutions with a tax base of less than 6.7 million euros. A measure which, as underlined by various sources and company heads of small banks, therefore appears applicable only to very small-sized institutions.

"The threshold is very low" the same sources underline "and only keeps out the very small ones". In fact, many mutual banks also have higher numbers given the general good state of health of the credit world.

Then there is the issue of lower deductibility for IRAP purposes which contributes to increasing the impact of the budget law.

After the diffusion of the stamped text, the credit institutions in that range are doing the math in the hope that some further corrections may arrive during the parliamentary process.