Special attention will have to be devoted to the banks that are, on average, more exposed to the firms that have benefited from the moratoria and to the sectors that have been hit hardest by the effects of the pandemic.
Obviously, this must not be done indiscriminately, and it will be necessary to work in careful coordination with the support measures introduced by the Government. The Bank of Italy is monitoring this issue closely. The idea currently being discussed at European level of creating a network of NPL-handling national asset management companies (AMCs) should be considered favourably.