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ECB issues bad-loan warning

He made particular reference to the need for the rapid processing of online property auctions, avoiding any further delays and the broad use of the extrajudicial debt settlement mechanism.

Coeure added that the planning of European authorities provides for stress tests across Europe, which will also examine the peculiarities of Greek banks in depth, both regarding the high level of NPLs and the assessment of collateral and liquidity conditions.

Despite the banks’ insistence that the NPL reduction targets for 2017 will be met, it is clear that the creditors do not view the progress made as satisfactory, leading to the call for a greater effort with the use of all tools available.

Nevertheless, cooperation between the ECB and the IMF has intensified, allowing them to find some common ground, upon an initiative by the governor of the Bank of Greece, Yannis Stournaras, too.

The IMF has been arguing in favor of a greater capital injection for Greek lenders for years, and the amount of 10 billion euros is often mentioned.

READ MORE (Kathimerini)

  • Former ECB board member says EU rules could pose bank run risksReuters
  • ECB to announce in Oct plans to reduce
  • ECB says banks may try to avoid its supervision after BrexitReuters
  • Top EU regulator warns 'rogue' banks against gaming the rulesFinancial News (subscription)
  • ECB underlines improvement in liquidity of Greek banksTornos News International Edition (press release)
  • Banks could try to avoid regulation after Brexit, warn Brussels officialsThe Times
  • Greek banks don't need asset quality review now, says ECBKathimerini
  • Greek bank liquidity has improved materially, ECB's Coeure saysKathimerini
  • ECB's Lautenschlaeger says it's time to cut bond purchasesReuters

This post first appeared on The 5th News, please read the originial post: here

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ECB issues bad-loan warning


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