Figure 10  Credit quality of Italian banks (billions of euros)  400  400  Total NPLs 300  300  Gross  200  200 Net  Gross  100  100 Net  Bad debts  0  0 2006  2008  2010  2012  2014  2016  2018  Source: Supervisory reports (consolidated for banking groups and individual for stand-alone banks).
BIS central bankers’ speeches  result of external factors became operative, the continuation and even increase in this trend would not be necessarily precluded. With far more serious economic difficulties in the euro area and Japan than in the US, it is difficult to imagine a closer synchronicity of their monetary policies in the foreseeable future.