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Financial News: ECB Urges Banks To Implement Realistic & Ambitious

ECB Urges Banks To Implement Realistic & Ambitious Strategies For NPL Reduction

03/20/2017 - 06:26:00 (RTTNews)

(RTTNews) - Eurozone banks must pursue realistic and ambitious strategies for reducing non-performing loans and these should include a range of policy options such as non-performing loan workout, servicing and portfolio sales, the European Central Bank said Monday.

In its final guidance on non-performing loans, the ECB called on banks with high levels of NPLs "to implement realistic and ambitious strategies to work towards a holistic approach regarding the problem of NPLs."

"This includes areas such as governance and risk management," the bank added.

While the ECB does not stipulate quantitative targets to reduce NPLs, it asked banks to devise a strategy that could include a range of policy options such as NPL work-out, servicing, and portfolio sales.

Banks must make the expected enhanced disclosures on NPLs as per the guidance from 2018 onwards to ensure consistency and comparability, the ECB report said.

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