ECB gives eurozone banks more time to deal with new NPLs
Leading European lawmaker welcomes relaxation in ECB’s provisioning requirements
The European Central Bank’s supervisory arm has extended the amount of time the eurozone’s larger banks will have to fully provision for new non-performing loans.
The eurozone’s largest banks will have more time to put aside capital for loans originated after April 26, which subsequently become NPLs. The European Union’s Capital Requirements Regulation gives the ECB’s supervisory arm the power to order the eurozone’s largest banks, which it directly supervises, to fully cover all NPLs.
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