BUSINESS

ECB puts off new NPL rules

TAGS: Banking

The European Central Bank’s new rules forcing lenders to set aside more cash for loans that go unpaid may come into force on April 1, three months later than originally planned, the ECB’s chief supervisor Daniele Nouy said on Wednesday.

Heavy criticism from southern nations such as Greece and Italy forced the ECB to rethink its proposal and while no fundamental change in the proposal is likely, the ECB is expected to refine its text to fend off criticism.

[Reuters]

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