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MNI BRIEF: EU Push To Avoid NPL-Driven Credit Crunch

(MNI) LONDON
LONDON (MNI)

The European Union wants to prevent a build-up of Covid-induced bank non-performing loans that could lead to a credit crunch for firms and households, Commission Vice President Valdis Dombrovskis said Wednesday

"History shows us that it is best to tackle non-performing loans early and decisively, especially if we want banks to continue supporting businesses and households," he said. The Commission is targeting four main areas: Further developing secondary markets for distressed assets; Reform of the EU's corporate insolvency and debt recovery legislation; Establishment and cooperation of national asset management companies; Precautionary public support measures.

The full Commission proposal was published Wednesday.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Policy NewsHomepageCEEMEAEurozoneBriefStoryRegion
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Policy NewsHomepageCEEMEAEurozoneBriefStoryRegion

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