Credem and its subsidiary Magazzini Generali delle Tagliate hold over 500,000 wheels of Parmigiano Reggiano valued above €300 million as collateral for loans to dairy producers. Producers receive 60-80% of wheel value upfront during the required 12-36 month aging period. The 2026 heat wave increased vault power use by roughly 30% and reduced milk yields by up to 10% when temperatures exceeded 40°C.