This study presents the results of a survey carried out by the Bank of Italy in 2015 on the efficiency of credit recovery procedures undertaken by the main Italian banking groups. The recovery rate for liquidations in the years 2011-2014 was slightly above 40 per cent, and the largest share of the recovery was obtained within the first five years from the start of the procedure. Four years after the debt restructurings began, almost two thirds are still underway. The average age of liquidations at the end of 2014 was twice that of debt restructurings and eight percentage points more of loans being restructured are collateralized than those being liquidated. In 2014 the management of non-performing loans absorbed 2.8 per cent of banks' operating costs, a larger share than in previous years. The study found differences in the systems adopted by the banks for managing non-performing loans and in the amount of information available on the topics covered by the survey.