IMF staff propose additional reforms to Italian banking sector
Directors “commend” Italian authorities for reform efforts, but warn of “strained” balance sheets
Staff at the International Monetary Fund set out a "more ambitious and proactive approach" to repairing the Italian banking sector on July 11.
Non-performing loans (NPLs) appear to be stabilising to comprise around 18% of total loans, according to an IMF report, although bank balance sheets at this level are "strained". Moreover, share prices have been hit in the wake of the UK's vote to leave the EU.
Italian prime minister Matteo Renzi favours some form of public support for the banking sector
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