{
  "title": "Italy: Financial Sector Assessment Program-Technical Note-Tackling Non-Performing Assets",
  "publication": "IMF Staff Country Reports, August 4, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2020/08/03/italy-financial-sector-assessment-program-technical-note-tackling-non-performing-assets-49631",
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  "summary": "Banks’ asset quality has substantially improved in recent years but remains well below European peers. Non-performing loans (NPLs) fell from 16½ percent in 2015 to about 8.1 percent at end-June 2019, achieved mainly through €145 billion of private NPL sales.",
  "sections": [
    {
      "heading": "Summary findings",
      "content": "- Banks’ asset quality has substantially improved in recent years but remains well below European peers.\n- Non-performing loans (NPLs) fell from 16½ percent in 2015 to about 8.1 percent at end-June 2019, achieved mainly through €145 billion of private NPL sales.\n- NPLs remain well above the 3.0 percent average of the main European Union (EU) banks as of June 2019.\n- New NPL formation has fallen to pre-crisis levels.\n- Provisioning coverage was 52.5 percent as of June 2019, placing Italy 7.6 percentage points above the average of the main EU banks."
    },
    {
      "heading": "Key statistics",
      "content": "- NPLs: 16½ percent in 2015 → about 8.1 percent at end-June 2019\n- Private NPL sales: €145 billion\n- EU peers’ NPL average: 3.0 percent (as of June 2019)\n- Provisioning coverage: 52.5 percent (as of June 2019)\n- Provisioning coverage relative to EU peers: 7.6 percentage points above the average of the main EU banks"
    },
    {
      "heading": "Thematic focus",
      "content": "- Banking sector asset quality and NPL dynamics\n- Role of private sales in reducing stock of NPLs\n- Comparative positioning versus main EU banks on NPL ratios and provisioning coverage\n- Recent trend in new NPL formation returning to pre-crisis levels\n\nInternational Monetary Fund. Italy: Financial Sector Assessment Program-Technical Note-Tackling Non-Performing Assets, IMF Staff Country Reports 2020, 234 (2020).\n\n---\n\n Content in this bundle\n\n- 1itaea2020004\n  - 1itaea2020004 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1itaea2020004 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: August 4, 2020",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513552156.002",
    "Banks’ asset quality has substantially improved in recent years but remains well below European peers.",
    "Non-performing loans (NPLs) fell from 16½ percent in 2015 to about 8.1 percent at end-June 2019, achieved mainly through €145 billion of private NPL sales.",
    "NPLs remain well above the 3.0 percent average of the main European Union (EU) banks as of June 2019.",
    "New NPL formation has fallen to pre-crisis levels.",
    "Provisioning coverage was 52.5 percent as of June 2019, placing Italy 7.6 percentage points above the average of the main EU banks.",
    "NPLs: 16½ percent in 2015 → about 8.1 percent at end-June 2019",
    "Private NPL sales: €145 billion",
    "EU peers’ NPL average: 3.0 percent (as of June 2019)",
    "Provisioning coverage: 52.5 percent (as of June 2019)",
    "Provisioning coverage relative to EU peers: 7.6 percentage points above the average of the main EU banks",
    "Role of private sales in reducing stock of NPLs",
    "Comparative positioning versus main EU banks on NPL ratios and provisioning coverage",
    "Recent trend in new NPL formation returning to pre-crisis levels",
    "**1itaea2020004**"
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