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ECB rules on old bad loans may include transition arrangements - Angeloni

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ECB rules on old bad loans may include transition arrangements - Angeloni

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FRANKFURT (Reuters) – The European Central Bank still plans to present new guidelines in resolving the bank sector’s stock of soured debt but the new rules could also include “transitional arrangements”, ECB bank supervisor Ignazio Angeloni said on Wednesday. The ECB has come under fire for proposing stringent rules on building provisions for new non-performing loans and said it may delay and refine its guidelines in light of the criticism. “Going forward, we plan to present our considerations to address the existing stock of NPLs by the first quarter of 2018, possibly including appropriate backstops and adequate transitional arrangements,” Angeloni said in the ECB’s Supervision Newsletter.

(Reporting by Balazs Koranyi; Editing by Francesco Canepa)
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