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The new definition of default provides that, for the purpose of calculating the mandatory minimum capital requirements for banks and financial intermediaries, debtors are classified as impaired (default) when at least one of the following conditions is met:

  1. the debtor has been overdue for over 90 days (in some cases, for example for general government, 180) in the payment of a material obligation;
  2. the bank considers it unlikely that, without recourse to actions such as enforcement of guarantees, the debtor fulfills in full to his obligation. doc of the bank of Italy

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