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Bank loans that are not paid will be subject to proposed new rules that force lenders to allocate more money for possible losses, its chief executive said on Thursday.
"The published draft provides for the application of an addendum to overdue loans (non-performing loans) that have been classified as such since January 2018," said Danièle Nouy in a written response to a member of the European Parliament. "In the context of public consultations, we will also review this key date."
Earlier it was reported that Europe becomes without exaggeration the world leader in banking regulation. At least five new sets of rules should soon enter into force in the EU. They will open the banking sector of the Old World for greater competition, tighten the rules of trading, reduce the reporting profit and raise capital requirements.
Despite the fact that the innovations will make the financial system of Europe stronger, the bankers - after ten years of strict regulation - expect no particular enthusiasm for change.
Although the euro area now has a single supervisor in the person of the European Central Bank and a single body dealing with insolvent banks, it still lacks a single deposit insurance scheme, mainly because German taxpayers do not want to be responsible for the failures of the creditors of Southern Europe.
source: reuters.com
"The published draft provides for the application of an addendum to overdue loans (non-performing loans) that have been classified as such since January 2018," said Danièle Nouy in a written response to a member of the European Parliament. "In the context of public consultations, we will also review this key date."
Earlier it was reported that Europe becomes without exaggeration the world leader in banking regulation. At least five new sets of rules should soon enter into force in the EU. They will open the banking sector of the Old World for greater competition, tighten the rules of trading, reduce the reporting profit and raise capital requirements.
Despite the fact that the innovations will make the financial system of Europe stronger, the bankers - after ten years of strict regulation - expect no particular enthusiasm for change.
Although the euro area now has a single supervisor in the person of the European Central Bank and a single body dealing with insolvent banks, it still lacks a single deposit insurance scheme, mainly because German taxpayers do not want to be responsible for the failures of the creditors of Southern Europe.
source: reuters.com
