EU Council adopts position on secondary markets for bad loans
With Council having adopted its position, Romania’s EU Council Presidency can start negotiations with the European Parliament.
27 Martie 2019, 15:08
European Union is encouraging development of secondary markets for non-performing loans (NPLs), which would allow banks more easily to manage or sell bad loans. EU Ambassadors today approved Council’s position on a proposed directive which harmonises rules for how non-credit institutions can buy credit agreements from banks. Aim of new rules is to reduce existing banks’ stocks of NPLs and prevent their accumulation in the future.
With Council having adopted its position, Romania’s EU Council Presidency can start negotiations with the European Parliament.
Romanian Minister of Finance, chair of Council, Eugen Teodorovici:Reducing the existing stock of bad loans in the banking sector and preventing their accumulation in the future is essential to guarantee stability of EU’s financial system. Position adopted by the Council today creates a clear regulatory framework for the purchase and servicing of bad loans, which will lead to development of efficient secondary markets. It is the key to strengthening the banking union.
Source:Roomania2019.eu
