What is Credito Emiliano?

Credito Emiliano, a bank in Italy’s Emilia-Romagna region, offers loans in exchange for uniquely Italian collateral: golden wheels of Parmigiano-Reggiano cheese. Housed in a high-security complex surrounded by barbed wire, the bank, known locally as Credem, holds some 430,000 wheels of Parmigiano-Reggiano made by farmers in the area.

Is cheese a good collateral for a Credito Emiliano loan?

Cheese happens to be an acceptable form of collateral if you’re seeking a loan from Credito Emiliano bank in Italy. Take Mauro Rossi, for example. His small business – Gavesetto – produces about 20,000 “wheels” of Parmigiano-Reggiano (the so-called “king of cheese”) in the Emiliano region of Italy every year.

Does Credito Emiliano sell Parmesan cheese?

MONTECAVOLO, ITALY (Bloomberg News) — The vaults of the regional bank Credito Emiliano hold a pungent gold prized by gourmands around the world — 17,000 tons of parmesan cheese. The bank accepts parmesan as collateral for loans, helping it to keep financing cheese makers in northern Italy even during the worst recession since World War II.