The average revision was about 10 per cent, compared with 13 per cent for all the euro-area banks subject to review, confirming that the valuation criteria used by Italian banks were substantially correct.
In recent years, however, a number of financial institutions have come to focus on disclosure of a wider range of information, including their management policies. This is partly attributable to the expansion of derivatives transactions, which has made risk management techniques increasingly important in the management of financial institutions, and which has thereby encouraged financial institutions to improve such techniques.