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MNI BRIEF: No Urgent Need For Eurozone 'Bad Bank' - ECB Enria

(MNI) Frankfurt

The absence of a sharp rise in non-performing loans as a result of the Covid-19 pandemic means there is no longer any urgent need to establish a euro area ‘bad bank,’ ECB Supervisory Board chair Andrea Enria said in an interview published Tuesday, although a European asset management company could be useful in the medium term.

A European Deposit Insurance Scheme (EDIS) “will happen,” Enria said. “The point is that even in the most optimistic scenario, where we reach an agreement in 2022, this will still be just a roadmap that will take three to five years to implement – or maybe even longer. It’s taking too long.”

MNI London Bureau | +44 20 3983 7894 |
MNI London Bureau | +44 20 3983 7894 |

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