The Countercyclical Capital Buffer (CCyB) rate for the fourth quarter of 2024 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 second quarter of 2024, the total credit-to-GDP gap was negative by 12 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. Despite a gradual increase in new non-performing loans to firms over the last few quarters, the overall NPL ratio remains at historically low levels; the unemployment rate has decreased further and in the first quarter of 2024 real house prices were basically unchanged compared with the previous quarter.