EU Intervention Gives Banks More Time To Clear Bad Loans
Law360, London (August 22, 2019, 2:01 PM BST) -- Banks in the eurozone will get more time to cover losses from soured loans after the European Central Bank eased rules Thursday following intervention from the European Parliament.
The ECB said it would revise its supervisory expectation for banks for how long lenders have to clear nonperforming loans — currently standing at €820 billion ($908 billion) — from their books after the European Parliament weighed in on the matter with its own legislation.
“The European Central Bank has decided to revise its supervisory expectations for prudential provisioning of new non-performing exposures specified in the addendum to the ECB Guidance to banks...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!