February, 1 2016
The property valuation updating process to the latest European standards has been concluded.
The update of the guidelines was therefore particularly appropriate to ensure continued compliance to international and European valuation standards, so that this self-regulatory document can be used as a reference in the transposition of European regulations.
This is one of the key messages included in the interview delivered by ASSOVIB Vicepresident Silvia Cappelli to the monthly Azienda Banca, one of the most important sector publications. The Guidelines are important not only in the credit provision, but also in relation to non-performing loans banking policies and to foster the efficiency of credit recovery procedures. Once a proper evaluation in the origination phase has been made and the value is updated time after time with the most appropriate revaluation techniques, it is essential to use the same criteria to evaluate during NPL phase, Cappelli highlighted.
Banks also will be responsible for demonstrating that valuations have been carried out by appraisers who will have to show two basic features: to be competent and independent.