October 4, 2018 / 1:00 PM / in 18 days

RPT-Greece working on bank bad-loan asset protection scheme - bankers

(Repeats to attach story to urgents)

ATHENS, Oct 4 (Reuters) - Greece has been working on an asset protection scheme to help its banks offload sour loans from their balance sheets and shown it to European Union competition authorities and banking supervisors, bankers close to the matter said on Thursday.

The scheme would involve setting up special purpose vehicles (SPVs) where billions of euros of bad loans would be transferred from bank balance sheets to help speed up the clean-up process. (Writing by George Georgiopoulos; Additional reporting by Lefteris Papadimas; Editing by Hugh Lawson)

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