- The term “significant amount past due” means an amount of over 500 euros (that relates to one or more accounts) which represents more than 1% of the undertaking’s exposures to the Bank;
- The conditions for the classification of the client as defaulted are assessed at Banking Group level;
- The Group classifies the client as defaulted if the payment is past due for over 90 consecutive days;
- It will no longer be possible to use margins that are still available on credit lines that have not been used to compensate the failure to fulfil existing obligations on individual accounts and avoid being classified as defaulted;
- The defaulted status will persist for at least 90 days from the time the client regularises the payment past due to the Bank and there are no further prejudicial events.
In case of joint accounts, the default could involve both such accounts and the accounts of the individual joint holders.
Lastly, in case of a request to restructure the credit due to financial difficulties, the new rules impose the classification of a client as defaulted if such restructuring results in a loss for the Bank/Company that exceeds 1% of the net present value of cash flows.
 The threshold of 500 euros is reduced to 100 euros for natural persons and for SMEs whose total exposures to the Bank do not exceed 1 million euros.
 In the case of advances with recourse, the amount past due is represented by the surplus of the advances compared to the advance fee agreed between the factor and the assignor