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IMF supports ECB proposal to raise provisions on bad loans
October 13, 2017 / 1:29 PM / 2 months ago

IMF supports ECB proposal to raise provisions on bad loans

    WASHINGTON, Oct 13 (Reuters) - The International Monetary
Fund strongly supports the European Central Bank's recent
proposal to increase provision requirements for new
non-performing loans, IMF European Department chief Poul Thomsen
said on Friday.
    The ECB recently proposed requiring lenders to increase loan
loss provisions on newly classified non-performing, unsecured
loans to 100 percent over two years. For secured loans,
provisions would need to rise to 100 percent over seven years.

 (Reporting by Balazs Koranyi and Jan Strupczewski; Editing by
Paul Simao)

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