EC says non performing loans decreasing in EU.
BANKING AND CREDIT NEWS-June 13, 2019--EC says non performing loans decreasing in EU
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Global Banking News - 13 June 2019
The European Commission (EC) has said in a report that non-performing loans are decreasing in the EU.
The EC said that efforts to reduce risks in the EU banking sector are seeing results. In its fourth progress report, the EC said NPL levels are moving towards pre-crisis levels. It said that the ratio of such loans at EU banks has dropped by more than half since 2014. It dropped by 3.3 per cent in the third quarter of 2018.
Valdis Dombrovskis, VP for Financial Stability, Financial Services and Capital Markets Union, said, 'Working out the remaining stocks of non-performing loans is part of our ongoing efforts to make the banking sector even stronger. Our banks are now better capitalised and better prepared to withstand economic shocks. We've recently agreed on more robust framework to regulate and supervise banks. Given this progress in reducing risks, I call on EU Finance Ministers to move forward with other measures to complete the Banking Union.'
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