October 31, 2018 / 11:04 AM / 16 days ago

EU states agree new draft rules on banks bad loans

BRUSSELS, Oct 31 (Reuters) - European Union diplomats agreed on Wednesday new draft rules for banks saddled with bad loans, an EU statement said, in a move that tightens requirements for lenders to cover possible losses.

The compromise reached by EU states is in some parts stricter than legislative changes proposed in March by the European Commission. In other parts, the new deal is instead softer. The agreement needs the approval of the EU Parliament. (Reporting by Francesco Guarascio, editing by Louise Heavens)

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