EU Regulators Warn Banks To Expect Fall In Asset Quality
Law360, London (April 1, 2021, 1:58 PM BST) -- Banks in the European Union should adjust their loan provisioning models and engage with struggling borrowers at an earlier stage because of the economic shock caused by the COVID-19 pandemic, the bloc's three main financial regulators have said.
The European Supervisory Authorities have warned that financial institutions and supervisors, including national regulators, should prepare for a fall in the quality of assets, including exposures they face through their lending portfolios. Many banks in the bloc have had to set aside billions as they fear borrowers will struggle to repay loans.
Lenders should apply the "most suitable strategies" early on when they look...
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