Diapositiva 1

1
THE GUARANTEE SYSTEM IN SPAIN
THE IMPORTANCE OF COUNTERGUARANTEE PROVIDED BY
CERSA AND REGIONAL GOVERNMENTS
2
COUNTERGUARANTEE IN SPAIN
DATA OF INTEREST
ITS THE SYSTEM USED BY CENTRAL ADMINISTRATION
OR REGIONAL GOVERMENTS TO SUPPORT SMES THROUGH
THE GUARANTEE SYSTEM
TARGET / ACTIVITY
TO OFFER A COUNTERGUARANTEE TO THE OPERATIONS
MADE BY THE MGS
IT CANT CONCEDE NEITHER GUARANTEES NOR LOANS
IT IS CONSIDERED A FINANCIAL ENTITY
THE BANK OF SPAIN HAS THE POWER TO SUPERVISE THE
COUNTERGUARANTEE SYSTEM
3
THE COUNTERGUARANTEE SYSTEM IN SPAIN
CHARACTERISTICS
THE RELATION BETWEEN CERSA AND THE MGS IS MADE
THROUGH A COMMERCIAL CONTRACT
THE CONTRACT INCLUDES DIFFERENT COVER PERCENTAGES
DEPENDING ON THE DIFFERENT CHARACTERISTICS OF
PRODUCTS
IT ONLY GIVES COUNTERGUARANTEES TO THE FINANCIAL
LOANS
THE TERM OF THE GUARANTEE HAS TO BE HIGHER THAN
36 MONTHS
THE MAXIMUM COUNTERGUARANTEE IS 75 AND THE
MINIMUM 30
TECHNICAL GUARANTEES ARE NOT INCLUDED IN THE
CONTRACT
4
THE COUNTERGUARANTEE SYSTEM IN SPAIN
CONTRACT CONDITIONS
THE GOAL OF THE CONTRACT IS THE PARTIAL COVER
OF PROVISIONS
GENERAL PROVISIONS SPANISH REGULATIONS SAYS 1
OF THE OUTSTANDING COMMITMENTS
SPECIFIC PROVISIONS IT DEPENDS ON HIS DEFAULTS
AND ON THE EQUITY SITUATION
IT ONLY TAKES DEFAULTS WHEN THE MGS TRANSFER
DEFAULT TO HIS BALANCE SHEET
FREE COSTS FOR THE MGS
ADITIONAL COST DEPENDING ON THE VARIATION OF
PROVISIONS
PROVISIONS INCREASE AND DEFAULTS / ANUAL
AMORTISED RISK lt6
THE OPERATIONS ARE KEPT UNTIL THEIR AMORTISATION
5
THE COUNTERGUARANTEE SYSTEM IN SPAIN
CERSA THIRD-PARTY CONTRACTS
WITH THE EUROPEAN INVESTMENT FUND
WITH THE FISHING AND SEA PRODUCTS
SCIENCE AND TECHNOLOGY MINISTRY ( MINER )
6
THE COUNTERGUARANTEE SYSTEM IN SPAIN
CERSA THIRD-PARTY CONTRACTS
NON-FINANCIAL PRODUCTS
FINANCIAL PRODUCTS
NON-FINANCIAL PRODUCTS
7
THE COUNTERGUARANTEE SYSTEM IN SPAIN
WITH THE INVESTMENT EUROPEAN FUND (FEI)
MGS WITH LESS THAN 100 WORKERS
PERIOD BETWEEN 1ST JANUARY 2000 31ST DECEMBER
2002 DEFERRED UNTIL THE END OF 2003
EIF COUNTERGUARANTEE OF 35
NO COST FOR CERSA NOR THE MGS
COVERS 75 OF THE OPERATIONS INCLUDED (ACCEPTED)
IN THIS PROGRAM
8
COUNTERGUARANTEE SYSTEM IN SPAIN
WITH THE FISHING PRODUCTS FUND AND SEA CROPS
OPERATIONS TO RENOVATE THE FISHING FLEET / OR
COMPANYS RELATED WITH THAT SECTOR OF ACTIVITY
COVERS 75 OF THE OPERATIONS OF THIS SECTOR
OF ACTIVITY
NO COST FOR CERSA NOR THE MGS
CERSA GETS 600.000 EUROS FROM THE MINISTRY
9
THE COUNTERGUARANTEE SYSTEM IN SPAIN
SCIENCE AND TECHNOLOGY MINISTRY ( MINER )
OPERATIONS RELATED WITH RESEARCH, DEVELOPMENT AND
INNOVATION
COVERS 75 OF THE OPERATIONS OF THE SECTOR
OF ACTIVITY
NO COST FOR CERSA NOR THE MGS
10
THE COUNTERGUARANTEE SYSTEM IN SPAIN
ECONOMIC FIGURES IN 2002
11
THE COUNTER GUARANTEE SYSTEM IN SPAIN
ECONOMIC FIGURES
DURING 1994-2002 CERSA HAS ASSIGNED 22,8
MILLIONS TO DEFAULTS
THE TOTAL REALISED AMOUNT DURING THAT PERIOD WAS
3.403,80 MILLIONS
FOR EVERY THOUSAND MONETARY UNITS FROM THE
TOTAL REALISED AMOUNT, CERSA HAS ASSIGNED 5
MONETARY UNITSTO DEFAULTS
12
THE COUNTER GUARANTEES OF THE REGIONS
- THE REGION OF VALENCIA THROUGH EL INSTITUTO
VALENCIANO DE FINANZAS (VALENCIAN FINANCIAL
INSTITUTE) - THE BASQUE GOVERNMENT DIRECTLY
COMPLEMENTARY COUNTER GUARANTEES TO THOSE OF CERSA
THE MAXIMUM PERCENTAGE OF COUNTER GUARANTEES
GRANTED BY THE REGIONS IS 75 AS A COMPLEMENT OF
THOSE GRANTED BY CERSA
FINANCIAL OPERATIONS OLDER THAN 3 YEARS
THERE IS NO Q RATE (RISK QUALITY RATE)
LIMITATION
13
THE GUARANTEE SYSTEM IN SPAIN

• Qualified as financial entities by the 1/1994 Law
  and under the control and inspection of the Bank
  of Spain
• They grant financial and non-finantial guarantees
  and they give counselling
• Two kind of partners
• protectors (Public Administrations, banks, rural
  banks and regional governments)
• partícipants (SMES)