ROME, APRIL 29 – The war represents ”a significant source of uncertainty for the banking system; it can produce significant consequences through multiple channels, of a financial and economic nature “. It can be read in the report on financial stability of the Bank of Italy according to which “the deterioration rate of loans remains at historically low levels” and “the exit from the support measures is not causing cliff-effects for the riskiness” of loans. “Direct exposure to Russian counterparties is overall limited, but concentrated in the two largest groups and appears to be” manageable “. Italian companies more vulnerable and, above all, affected by the uncertainty of the situation of the global and European economy and the other prices of energy and raw materials. The Bank of Italy does not see a marked increase in the vulnerability of the sector but underlines how, after the recovery phase of 2021 when the debt contracted during the lockdown also fell, the picture has changed. The consequences of the conflict “are potentially significant; however direct exposures through exports to the affected markets appear to be contained “. (HANDLE).