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EU Agrees On Plan To Cut Back On 'Bad' Bank Loans

Law360, London (December 18, 2018, 1:25 PM GMT) -- The European Council and Parliament said on Tuesday they have agreed on a proposed regulation that will force banks to set aside more funds to prevent new loans from turning bad, in a move aimed at reducing the banking sector’s near-$1 trillion mountain of debt.

The council and Parliament have reached provisional agreement on capital requirements for banks that risk running up fresh non-performing loans on their balance sheets, as the EU works to chip away at an €820 billion ($933 billion) mountain of bad debt. The framework will require lenders to use their own funds to rescue loans that become...

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