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MNI BRIEF: ECB's Enria Warns On Deteriorating Asset Quality

(MNI) Brussels

ECB Supervisory Board Chair Andrea Enria has warned of signs of asset quality deterioration among euro zone banks in a note to Eurogroup finance ministers, ahead of their October 4 meeting. While Enria notes in a paper published Wednesday that non-performing loans have continued to decline, thanks to persisting government-support measures, he says 'faster-moving indicators', such as the share of forborne loans "are already showing signs of asset quality deterioration".

Enria also notes the increase in bankruptcies in the first quarter of this year and adds that "a further increase can be expected, particularly once support measures are phased out".

"…Banks need to properly monitor and classify individual debtors in order to identify distress at an early stage and provide appropriate solutions to these debtors in a timely manner".

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Central Bank NewsPolicy NewsEuropean Central BankRegulationCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsBriefStoryRegion
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Central Bank NewsPolicy NewsEuropean Central BankRegulationCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsBriefStoryRegion
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