The Countercyclical Capital Buffer (CCyB) rate for the first quarter of 2025 remains unchanged at zero per cent

Summary

The Bank of Italy deems that the countercyclical capital buffer rate in force for the current quarter, equal to zero per cent, is appropriate in the current macrofinancial context.

In the third quarter of 2024, the total credit-to-GDP gap was negative by about 13 percentage points, if calculated based on the methodology developed by the Bank of Italy. The bank credit-to-GDP ratio provides similar indications.

The flow of bank lending to the private sector remains weak. The overall NPL ratio remains at historically low levels; the unemployment rate has decreased further. In the second quarter of 2024, real house prices increased compared with the previous quarter.