In the context of European financial supervision, the Bank of Italy has been working for some time to persuade banks to make significant progress on this front. We have recently started a statistical survey on bad debts, designed to encourage banks to digitalize their records so as to optimize the management of non-performing loans, whether they intend to sell or recover them.
But before I begin, I would like to recognize and thank the speakers and panelists we will hear from during the conference. I would also like to acknowledge those who contributed to the new volume of papers the Federal Reserve published in conjunction with this event.