As the Vice-President of the ECB pointed out just yesterday, it is a lengthy and complex process, the positive effects of which will only materialize over the medium term, beyond the horizon considered in the stress tests. Last year the Single Supervisory Mechanism set up a task force on NPLs.
Even the news that a simple request for information had been made in this context triggered considerable turmoil on the financial market at the beginning of this year, highlighting the very sensitive nature of information on supervisory matters and the need to handle it carefully.