6/14  Lastly, on 20 June the Bank of Italy initiated an inspection of a general nature at BPI, inter alia with the aim of checking, in connection with the acquisitions, the bank’s capital ratios, its credit disbursement and management procedures and its statistical reports. The first checks concerned the amount of BPI’s own funds.
C.  Overseas economic and financial developments  As I just mentioned, Japan’s economy is expected to continue growing at a pace above its potential as a trend due to the ongoing firm domestic demand, while it will be affected by the front-loaded increase and subsequent decline in demand prior to and after the consumption tax hike.