ECB Outlines Plan To Cut Banks' €921B Of Problem Loans

Law360, London (March 20, 2017, 5:04 PM GMT) -- Eurozone banks with high levels of problem loans must draw up plans to reduce the scale of the issue, the European Central Bank said Monday, as it published guidance on tackling the banking industry's €921 billion ($990 billion) of nonperforming loans.

The ECB said banks with high levels of nonperforming loans should expect more regulatory scrutiny into whether their plans to bring down the loans comply with the central bank’s guidance, which acts as the basis of its supervisory dialog with individual institutions.

Although the scrutiny...
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