Italy: Financial Sector Assessment Program
IMF Staff Country Reports, July 24, 2026
Source details
- Canonical URL
- Italy: Financial Sector Assessment Program
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Bibliographic details
- Published: July 24, 2026
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798229054331.002
Key findings: financial system resilience and banking sector
- Italy’s financial system remains broadly sound and has demonstrated resilience in a challenging macrofinancial and geopolitical environment.
- Since the 2020 FSAP:
- banks have rebuilt capital,
- achieved record profitability,
- strengthened balance sheets, and
- advanced consolidation.
- Sovereign market sentiment has improved, supported by expectations of fiscal discipline.
Risks and constraints
- Important structural constraints persist:
- high public debt,
- weak potential growth, and
- adverse demographics.
- These constraints weigh on the medium-term outlook and limit policy space.
- External risks are rising, with heightened global tensions—including the war in the Middle East—posing challenges for a trade-oriented, energy-importing economy.
Subject classification and keywords
- Subject: Credit, Financial sector policy and analysis, Financial sector stability, Money, Stress testing
- Keywords: -flow-based liquidity stress tests, bank stress tests, Credit, Europe, Financial sector stability, financial system structure, Global, interest rate, Middle East, sovereign-bank nexus, Stress testing
Content in this bundle
- Italy: Financial Sector Assessment Program; IMF Country Report No. 26/194; June 30, 2026