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ECB to set targets for banks dragging feet on bad loans - Nouy

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ECB to set targets for banks dragging feet on bad loans - Nouy

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FRANKFURT (Reuters) – The European Central Bank will give “additional quantitative guidance” to banks that are failing to cut their pile of bad loans fast enough, the ECB’s chief bank supervisor said on Wednesday. “Our supervisory teams have engaged with banks carrying too high levels of NPE (non-performing exposure) to review and challenge the banks own plans and ensure that they address the issue in a both ambitious and realistic fashion,” she said in a speech in Basel. “For those banks that are lagging behind, we intend to come up with additional quantitative guidance.”

(Reporting By Francesco Canepa; Editing by Balazs Koranyi)
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