November 24, 2017 / 10:42 AM / in a year

ECB's Nouy defends plan to tackle bad bank loans

FRANKFURT, Nov 24 (Reuters) - European Central Bank supervisor Daniele Nouy defended a plan to require banks to hold bigger provisions against new non performing loans, arguing that sourced debt is one of the biggest problems facing the bloc’s lenders.

“We have firm expectations on this, which we have now spelled out,” Nouy told a conference in Frankfurt. “But to be clear: what I am talking about here are supervisory expectations.”

“There are no automatic actions attached to them,” she said. “Our guidance provides the basis for a structured dialogue with each individual bank.” (Reporting by Balazs Koranyi; editing by Ralph Boulton)

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