ECB to review start date for new rules on bad loans

The European Central Bank will consider delaying the date from which bank loans that go unpaid will be subject to its proposed new rules, which force lenders to set aside more money for possible losses, its top supervisor said on Thursday.

“The published draft foresees an application of the Addendum to NPLs (non-performing loans) newly classified as such from January 2018 onwards,” Daniele Nouy said in a written reply to a member of the European Parliament. “In the context of the public consultation, we will also review this reference date.”
Source: Reuters (Reporting By Francesco Canepa)

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