Measures to tackle non-performing loans

With today’s far-reaching measures, the Commission is delivering on the Council’s Action Plan to address the high stock of non-performing loans (NPLs) and prevent their possible future accumulation. It builds on ongoing efforts by Member States, supervisors, credit institutions and the EU: this has led to stocks of NPLs declining in recent years across banks and EU countries.

Despite good progress, however, more needs to be done to address remaining stocks of NPLs and their possible build-up in the future. Today’s measures aim to put the EU banking sector on an even sounder footing for future generations, with rock-solid banks that perform their indispensable role in financing the economy and supporting growth.

The package complements work on the Capital Markets Union and is an essential step towards the completion of the Banking Union, one of the immediate priorities agreed by EU leaders to strengthen Europe’s Economic and Monetary Union.

In addition, the Commission is also presenting its second progress report on the reduction of non-performing loans in Europe, showing that the decline of NPL stocks is continuing.

Source: http://www.news.cyprus-property-buyers.com