03.05.2026 20:32
A bank in Italy has started accepting world-famous Parmigiano-Reggiano cheese as loan collateral. Farmers facing cash shortages during the three-year aging process required for the cheese are granted loans worth up to 80 percent of the product's value. The bank stores the giant cheese wheels, each valued at $2,500, in climate-controlled special cellars under professional supervision.
After Hong Kong's luxury bags and Spain's financial moves using Cristiano Ronaldo as collateral, Italian cheeses have now been added to the list of unusual collateral in the banking world.
'CHEESE' ERA IN COLLATERAL
Credem Bank, operating in Reggio Emilia, Italy, has set aside gold bars and begun accepting giant cheese wheels worth up to $2,500 as loan collateral.
A LIFELINE FOR PRODUCERS
The biggest challenge for farmers producing world-famous Parmigiano-Reggiano cheese is the long maturation period of 12 to 36 months required for the product to gain value. The bank, coming to the aid of farmers who struggle to cover production costs during this period, provides loans of up to 70% to 80% of the total value of the cheeses, acting as a lifeline for producers. These giant cheeses, weighing up to 40 kilograms, are placed under the bank's protection for the duration of the loan.
NOT A BANK VAULT BUT A CHEESE FORTRESS
The bank's Tagliate General Depository resembles a high-tech cheese cellar rather than a classic vault. In this climate-controlled environment, 300,000 cheese wheels mature under professional supervision.
Bank officials are not only concerned with paperwork but also closely monitor the quality of the cheese; experts strike the wheels with special hammers, listening to the sound to check for any internal cracks.
Thanks to professional care, the loss rate, which can reach 10% in standard storage facilities, drops to 1% within the bank, minimizing the bank's risk while allowing the farmer's product to gain value under ideal conditions.
NOT THE ONLY UNUSUAL EXAMPLE IN THE WORLD
Assets that increase in value over time and require special storage conditions continue to attract attention in the financial world. Credem's cheese move is not the only unusual example globally; some banks in Hong Kong accepting limited-edition designer handbags as collateral and a Spanish bank previously using Cristiano Ronaldo as collateral when obtaining a loan from the European Central Bank remain among the most interesting notes in banking history.