I recall that in 2012, in this very venue, I highlighted the need to raise the coverage ratio for nonperforming loans, which had fallen to worrying levels (below 40 per cent). Shortly before that, we had launched a series of targeted inspections intended, among other things, to assess the adequacy of the provisioning policies.
In part owing to this supervisory action, the downward trend in the coverage was reversed, though with markedly varied results. The average increase exceeded 5 percentage points over the following two years.